Netflix's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
A significant number of investors have shown a bearish stance on Netflix (NASDAQ:NFLX), as evidenced by unusual options trading activity. Benzinga's options scanner revealed 38 uncommon trades, with a sentiment split between 42% bullish and 57% bearish. The trades suggest a price target range of $300 to $700 for Netflix in the short term. The company, known for its streaming service, has nearly 250 million subscribers globally and has recently introduced ad-supported subscription plans. Despite the bearish options activity, expert opinions remain positive, with an average target price of $683 and ratings ranging from Neutral to Buy.
March 25, 2024 | 4:08 pm
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Netflix has seen a bearish sentiment from significant investors based on unusual options activity, despite positive expert ratings and a strong subscriber base. The price target range is set between $300 and $700.
The bearish sentiment from significant investors, as indicated by the unusual options activity, suggests a potential short-term downside risk for NFLX stock. However, the positive expert ratings and Netflix's solid subscriber base and recent move into ad-supported plans could mitigate some of the negative impacts. The wide price target range indicates uncertainty about the stock's direction.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100