27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
A whale with a lot of money to spend has taken a noticeably bearish stance on Salesforce.
Looking at options history for Salesforce (NYSE:CRM) we detected 32 strange trades.
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If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $892,039 and 19, calls, for a total amount of $1,157,170.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $240.0 for Salesforce over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Salesforce'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 Salesforce's whale trades within a strike price range from $110.0 to $240.0 in the last 30 days.
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Salesforce Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | PUT | SWEEP | BEARISH | 10/21/22 | $140.00 | $149.4K | 1.5K | 302 |
| CRM | CALL | SWEEP | BEARISH | 01/19/24 | $110.00 | $142.9K | 120 | 40 |
| CRM | PUT | SWEEP | NEUTRAL | 01/20/23 | $175.00 | $129.0K | 1.9K | 61 |
| CRM | CALL | SWEEP | BULLISH | 01/19/24 | $110.00 | $113.1K | 120 | 16 |
| CRM | PUT | TRADE | BEARISH | 09/16/22 | $210.00 | $103.5K | 2.8K | 25 |
Where Is Salesforce Standing Right Now?
- With a volume of 3,092,238, the price of CRM is up 1.9% at $170.63.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 62 days.
What The Experts Say On Salesforce:
- Deutsche Bank has decided to maintain their Buy rating on Salesforce, which currently sits at a price target of $260.
- BMO Capital has decided to maintain their Outperform rating on Salesforce, which currently sits at a price target of $225.
- Barclays has decided to maintain their Overweight rating on Salesforce, which currently sits at a price target of $218.
- Wells Fargo has decided to maintain their Overweight rating on Salesforce, which currently sits at a price target of $235.
- Credit Suisse has decided to maintain their Outperform rating on Salesforce, which currently sits at a price target of $315.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Salesforce, Benzinga Pro gives you real-time options trades alerts.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.