Significant Options Trading on Thursday: EMN, CMCSA, JPM
Comcast Options Activity: Comcast Corp (CMCSA) has seen a high options volume of 321,197 contracts today, representing about 98.1% of its average daily trading volume, with significant activity in the $26 strike put option expiring December 26, 2025.
JPMorgan Options Activity: JPMorgan Chase & Co (JPM) has recorded 84,411 options contracts today, equating to 90.2% of its average daily trading volume, with notable trading in the $315 strike call option expiring December 12, 2025.
Underlying Shares Representation: The options volumes for CMCSA and JPM correspond to approximately 32.1 million and 8.4 million underlying shares, respectively, indicating substantial investor interest.
Resource for Options Expirations: For more information on various expirations for EMN, CMCSA, or JPM options, StockOptionsChannel.com is recommended as a resource.
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Comcast Reports Mixed Q4 Results Amid Streaming Gains
- Revenue Performance: Comcast reported Q4 revenue of $32.31 billion, slightly missing analyst expectations of $32.36 billion, despite a year-over-year growth of 1.2%, indicating strong performance in wireless and streaming sectors.
- Subscriber Losses: The company lost 181,000 broadband and 245,000 video subscribers, reflecting competitive pressure from telecom rivals, which negatively impacts its market share.
- Streaming Growth: Peacock's streaming service saw a 23% year-over-year revenue increase to $1.6 billion, with paid subscribers rising 22% to 44 million, showcasing robust growth in content and advertising revenue.
- Capital Returns: Comcast generated $4.37 billion in free cash flow during the quarter and repurchased 53.6 million shares, resulting in a total capital return of $2.7 billion, demonstrating a balance between ongoing investments and shareholder returns.

Netflix Considers All-Cash Bid for Warner Bros. Discovery
- Acquisition Dynamics: Netflix is reportedly considering an all-cash bid for Warner Bros. Discovery, although the board's resistance to Paramount's offer complicates negotiations, potentially impacting Netflix's market position.
- Market Reaction: Warner Bros. Discovery's spin-off, Versant, has a market cap of $4.8 billion post-IPO, with shares dropping from $45 to $33, indicating market concerns about its future value, which may influence Netflix's acquisition strategy.
- Financial Risks: Netflix's acquisition approach could involve up to $60 billion in debt, and while it generates $7-8 billion in free cash flow annually, high leverage may restrict future investment flexibility and affect shareholder confidence.
- Competitive Pressure: Amid intensifying competition in the streaming industry, Netflix faces threats from platforms like YouTube; if the acquisition fails, it could weaken its market share and growth potential.









