What the Options Market Tells Us About Netflix
Portfolio Pulse from Benzinga Insights
Options market analysis reveals a bearish sentiment towards Netflix (NASDAQ:NFLX), with 71% of trades being bearish. The price target range is between $300 and $800. The most significant trades indicate a focus on strike prices from $600 to $680. Netflix's business model focuses on its streaming service, with a global subscriber base of nearly 250 million. The stock is currently slightly up by 0.19% at $620.5, potentially overbought, with an earnings release anticipated in 43 days. UBS maintains a Buy rating with a target price of $685.
March 04, 2024 | 6:17 pm
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Bearish sentiment in options market with 71% trades bearish. Price target range $300-$800. UBS maintains Buy rating at $685. Stock slightly up, may be overbought.
The bearish sentiment in the options market, combined with the current slight increase in stock price and potential overbought status, suggests a cautious short-term outlook. However, the Buy rating from UBS and the anticipated earnings release could provide upward momentum, balancing the short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100