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ROKU Options

Communication Services International/Growth Live Data Updated 2025-12-30

ROKU Options

Roku Inc. Options Chain, Implied Volatility & Greeks

Comprehensive options market data for Roku Inc. (ROKU). Explore implied volatility patterns, options chain liquidity, gamma exposure levels for the streaming platform and connected TV leader.

Dashboard ROKU GEX Levels IV Analytics Options Flow

ROKU Options at a Glance

Daily Volume: 80K+ contracts

Bid-Ask Spread: $0.05 - $0.15 ATM

Open Interest: 1M+ contracts

IV Range: 45% - 110%

Expirations: Weekly, Monthly, LEAPS

Next Earnings: February 2025

What's Covered in This Guide

1 Company & Market Overview 2 Options Market Data 3 Volatility Profile 4 Common Strategies

Daily Volume

80K+ contracts

Open Interest

1M+

ATM Spread

$0.05-0.15

IV Range

45-110%

Focus

Streaming Platform

Position

#1 U.S. Platform

1 About Roku Inc. (ROKU)

Roku Inc. operates the leading TV streaming platform in North America. The company generates revenue from streaming device sales, platform revenue (advertising, content distribution fees), and its own free ad-supported streaming service (The Roku Channel). Roku's strength is its neutral platform position in the streaming wars.

Company Profile

Sector Communication Services

Industry Consumer Electronics

Market Cap $10B+ (highly variable)

Exchange NASDAQ

Key Dates

Next Earnings February 2025

Earnings Frequency Quarterly

Dividend Schedule None

Fiscal Year End December

Roku is the #1 streaming platform in the U.S. by active accounts. Its neutral position allows partnerships with all major streaming services.

2 ROKU Options Market Overview

ROKU options are liquid with strong retail interest in the streaming platform story. Volume spikes on earnings and streaming industry news.

Average Daily Volume 80K+ contracts

Total Open Interest 1M+ contracts

Put/Call Ratio 0.55 - 0.90 typical

Typical ATM Spread $0.05 - $0.15 ATM

Weekly Options Available

LEAPS Available Yes

Liquidity Assessment: Very Good

ROKU options have good liquidity. Higher stock price means wider dollar spreads.

3 ROKU Volatility Profile

ROKU implied volatility is elevated due to streaming industry uncertainty and ad revenue sensitivity. Earnings can move the stock significantly.

Low IV Environment

45% - 58%

Below average volatility

Typical IV Range

58% - 75%

Normal conditions

Elevated IV

75% - 110%

Above average volatility

Earnings Impact

IV builds before earnings. Active accounts, ARPU, and platform revenue are key focus areas.

Historical Volatility vs IV

IV trades at modest premium reflecting streaming industry uncertainty.

Term Structure

Steep into earnings. Flattens in quieter periods.

View ROKU IV Analytics

ROKU Gamma Exposure (GEX)

Gamma Exposure analysis for ROKU shows mixed positioning reflecting streaming sentiment.

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Typical GEX Profile: ROKU gamma can swing with streaming industry news and earnings.

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Key Levels: $10 strike intervals attract significant positioning.

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Dealer Hedging: Dealer hedging is active around major strikes.

View Live ROKU GEX

4 Common ROKU Options Strategies

These are strategies commonly used by traders on ROKU options, based on typical market characteristics. This is not investment advice.

Vertical Spreads Directional

Manage premium costs on directional bets. Essential for higher-priced ROKU.

Straddles Volatility

Play for big earnings moves. ROKU can exceed implied moves.

LEAPS Calls Long-Term

Long-term bet on connected TV growth and platform monetization.

Cash-Secured Puts Income

Accumulate shares at lower prices. Good IV premiums available.

Iron Condors Neutral

Post-earnings IV crush plays. Range-bound strategies between catalysts.

Explore All Options Strategies

Key Considerations for ROKU Options

Roku is the leading streaming platform but faces competition from smart TV manufacturers
Platform revenue (ads, content distribution) is more profitable than device sales
The Roku Channel (free ad-supported streaming) is a growing asset
Connected TV advertising is a growing market
Neutral platform position is valuable in streaming wars
Active accounts and ARPU (average revenue per user) are key metrics

Frequently Asked Questions: ROKU Options

How liquid are ROKU options?

ROKU options have good liquidity with average daily volume exceeding 80,000 contracts. Higher stock price means wider dollar spreads than lower-priced stocks.

What is ROKU's typical implied volatility?

ROKU implied volatility typically ranges from 45% to 110%. Normal conditions see IV between 58-75%.

What is Roku's business model?

Roku makes money from streaming device sales and platform revenue (advertising, content distribution fees from streaming services, and The Roku Channel ad-supported streaming).

How does Roku compete?

Roku's neutral position allows it to partner with all streaming services. It competes with Amazon Fire TV, Google TV, and smart TV manufacturers building their own platforms.

When does ROKU report earnings?

ROKU reports quarterly in February, May, August, and November.

What is the best time to trade ROKU options?

The most liquid trading hours for ROKU options are typically during regular market hours (9:30 AM - 4:00 PM ET), with highest volume around market open and close.

How do I calculate ROKU option Greeks?

Use our free Options Calculator or Greeks Heatmap tool to calculate delta, gamma, theta, vega and other Greeks for ROKU options across all strikes and expirations.

What happens to ROKU options at expiration?

In-the-money ROKU options are typically auto-exercised at expiration. Out-of-the-money options expire worthless. Consider closing positions before expiration to avoid assignment risk.