Deep-pocketed investors have adopted a bullish approach towards Cloudflare NET, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NET usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Cloudflare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 33% bearish. Among these notable options, 4 are puts, totaling $200,835, and 8 are calls, amounting to $380,506.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $155.0 for Cloudflare, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Cloudflare stands at 1402.0, with a total volume reaching 2,227.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cloudflare, situated within the strike price corridor from $55.0 to $155.0, throughout the last 30 days.
Cloudflare 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | TRADE | BULLISH | 01/17/25 | $15.9 | $15.8 | $15.8 | $85.00 | $104.2K | 3.8K | 68 |
| NET | CALL | TRADE | BULLISH | 06/21/24 | $21.25 | $20.8 | $21.13 | $55.00 | $69.7K | 495 | 33 |
| NET | CALL | TRADE | BULLISH | 05/17/24 | $20.95 | $20.4 | $20.79 | $55.00 | $68.6K | 82 | 45 |
| NET | CALL | SWEEP | BULLISH | 05/31/24 | $1.16 | $1.09 | $1.15 | $80.00 | $57.5K | 454 | 532 |
| NET | CALL | TRADE | BEARISH | 01/17/25 | $9.5 | $9.45 | $9.45 | $85.00 | $50.0K | 1.3K | 56 |
About Cloudflare
Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy, and execute code without maintaining servers.
In light of the recent options history for Cloudflare, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Cloudflare Standing Right Now?
- With a trading volume of 2,161,495, the price of NET is up by 2.3%, reaching $75.95.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 77 days from now.
What Analysts Are Saying About Cloudflare
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $88.4.
- An analyst from Piper Sandler downgraded its action to Neutral with a price target of $81.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Cloudflare, which currently sits at a price target of $80.
- An analyst from Goldman Sachs has decided to maintain their Sell rating on Cloudflare, which currently sits at a price target of $77.
- An analyst from Keybanc persists with their Overweight rating on Cloudflare, maintaining a target price of $94.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Cloudflare, targeting a price of $110.
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 Cloudflare with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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