A Closer Look at Roku's Options Market Dynamics
Financial giants have made a conspicuous bullish move on Roku. Our analysis of options history for Roku (NASDAQ:ROKU) revealed 10 unusual trades.
Delving into the details, we found 60% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $88,050, and 8 were calls, valued at $489,291.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $65.0 for Roku during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Roku'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 Roku's whale trades within a strike price range from $55.0 to $65.0 in the last 30 days.
Roku Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROKU | CALL | SWEEP | BULLISH | 01/16/26 | $17.35 | $17.25 | $17.35 | $65.00 | $172.8K | 836 | 0 |
| ROKU | CALL | SWEEP | BULLISH | 08/16/24 | $3.95 | $3.9 | $3.95 | $65.00 | $74.6K | 1.0K | 4 |
| ROKU | CALL | TRADE | BEARISH | 01/16/26 | $18.3 | $18.25 | $18.25 | $65.00 | $60.2K | 836 | 419 |
| ROKU | PUT | SWEEP | BEARISH | 08/02/24 | $5.95 | $5.8 | $5.9 | $63.00 | $59.0K | 8 | 0 |
| ROKU | CALL | SWEEP | BULLISH | 10/18/24 | $11.05 | $10.95 | $11.05 | $55.00 | $51.9K | 866 | 1 |
About Roku
Roku enables consumers to stream television programming. It has more than 80 million streaming households and provided well over 100 billion streaming hours in 2023. Roku is the top streaming operating system in the US, reaching more than half of broadband households, according to the company. Roku's OS is built into streaming devices and televisions that Roku sells and on connected televisions from other manufacturers that license Roku's name and software. Roku also operates the Roku Channel, a free, ad-supported streaming television platform that offers a mix of on-demand and live television programming. Roku generates revenue primarily from selling devices, licensing, and advertising, and it receives fees from subscription streaming platforms that sell subscriptions through Roku.
Having examined the options trading patterns of Roku, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Roku's Current Market Status
- Currently trading with a volume of 1,851,177, the ROKU's price is up by 2.25%, now at $62.39.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 16 days.
What The Experts Say On Roku
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $87.5.
- An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $75.
- An analyst from Needham downgraded its action to Buy with a price target of $100.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Roku with Benzinga Pro for real-time alerts.