Stock Traders Buy High Volume Call Options on Netflix (NASDAQ:NFLX)

Investors in Netflix (NASDAQ: NFLX) saw an uptick in options trading last Friday, with a whopping 343,465 call options purchased. This surge, about 29% above the average volume, came as Netflix shares dipped by 2.7% to $91.27 on lighter-than-usual trading.

Despite the drop in stock price, Netflix had a stellar quarter with a huge earnings per share beat of $5.87 compared to an expected $0.69. While revenue slightly missed estimates at $11.32 billion, the company saw strong engagement thanks to hits like “Stranger Things” and live sports coverage. Analysts have pegged a consensus “Moderate Buy” rating on the stock with a target price of $129.68.

Interestingly, insiders at Netflix sold about 1,172,080 shares worth around $129 million last quarter, including sales by the CEO and CFO, even as institutional ownership remains high at approximately 80.9%.

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