Benzinga | Dec 13, 2021 01:19PM EST

Netflix Whale Trades Spotted

Someone with a lot of money to spend has taken a bearish stance on Netflix (NASDAQ:NFLX).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NFLX, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for Netflix.

This isn't normal.

The overall sentiment of these big-money traders is split between 33.33% bullish and 66.67%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $892,601, and 3 are calls, for a total amount of $86,804.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $530 to $660 for Netflix over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Netflix's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Netflix's whale activity within a strike price range from $530 to $660 in the last 30 days.

Netflix Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:



Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestNFLX PUT TRADE NEUTRAL 12/31/ $655.00 $166.3K 60 52 21NFLX PUT TRADE NEUTRAL 12/17/ $655.00 $160.9K 574 73 21NFLX PUT TRADE NEUTRAL 12/31/ $650.00 $152.3K 135 51 21NFLX PUT TRADE NEUTRAL 12/17/ $650.00 $145.4K 2.5K 78 21NFLX PUT SWEEP BULLISH 12/17/ $605.00 $85.6K 724 239 21

Where Is Netflix Standing Right Now?

* With a volume of 1,010,949, the price of NFLX is down -1.4% at $603.11.

* RSI indicators hint that the underlying stock may be oversold.

* Next earnings are expected to be released in 36 days.

What The Experts Say On Netflix:

* Keybanc has decided to maintain their Overweight rating on Netflix, which currently sits at a price target of $725.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.