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Decoding Roku's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Roku ROKU.

And retail traders should know.

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

Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with ROKU, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga‘s options scanner spotted 24 uncommon options trades for Roku.

This isn’t normal.

The overall sentiment of these big-money traders is split between 75% bullish and 16%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $161,691, and 21 are calls, for a total amount of $1,356,914.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $50.0 and $100.0 for Roku, spanning the last three months.

Insights into Volume & Open Interest

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 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 activity within a strike price range from $50.0 to $100.0 in the last 30 days.

Roku Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ROKU CALL SWEEP BULLISH 05/16/25 $6.5 $6.45 $6.5 $60.00 $164.7K 1.6K 923
ROKU CALL SWEEP BEARISH 01/16/26 $24.45 $24.4 $24.4 $50.00 $122.0K 1.2K 52
ROKU CALL SWEEP BULLISH 05/16/25 $6.6 $6.1 $6.6 $60.00 $118.8K 1.6K 678
ROKU CALL TRADE NEUTRAL 03/20/26 $18.35 $17.7 $18.05 $60.00 $90.2K 122 50
ROKU CALL TRADE NEUTRAL 03/20/26 $18.35 $17.7 $18.05 $60.00 $90.2K 122 50

About Roku

Roku enables consumers to stream television programming. It has more than 90 million streaming households and provided 127 billion streaming hours in 2024. 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.

Present Market Standing of Roku

  • Trading volume stands at 6,136,047, with ROKU’s price up by 13.19%, positioned at $68.97.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 80 days.

What The Experts Say On Roku

5 market experts have recently issued ratings for this stock, with a consensus target price of $97.0.

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* An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $130.
* Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Roku, targeting a price of $100.
* An analyst from Loop Capital persists with their Hold rating on Roku, maintaining a target price of $80.
* In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $95.
* Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Roku, targeting a price of $80.

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.