Investors with a lot of money to spend have taken a bullish stance on Salesforce CRM.
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 CRM, 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 42 uncommon options trades for Salesforce.
This isn't normal.
The overall sentiment of these big-money traders is split between 61% bullish and 38%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $620,122, and 34 are calls, for a total amount of $3,193,872.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $165.0 to $350.0 for Salesforce over the last 3 months.
Analyzing Volume & Open Interest
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 $165.0 to $350.0 in the last 30 days.
Salesforce Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | CALL | TRADE | BULLISH | 01/16/26 | $290.00 | $999.0K | 1.0K | 0 |
| CRM | CALL | SWEEP | BULLISH | 04/19/24 | $290.00 | $332.1K | 3.0K | 682 |
| CRM | PUT | SWEEP | BULLISH | 03/15/24 | $280.00 | $154.2K | 1.3K | 267 |
| CRM | CALL | SWEEP | BEARISH | 04/19/24 | $300.00 | $130.6K | 2.4K | 182 |
| CRM | PUT | SWEEP | BULLISH | 01/16/26 | $250.00 | $130.6K | 724 | 403 |
About Salesforce
Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.
In light of the recent options history for Salesforce, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Salesforce's Current Market Status
- With a trading volume of 2,485,896, the price of CRM is up by 0.43%, reaching $293.2.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 19 days from now.
Professional Analyst Ratings for Salesforce
In the last month, 3 experts released ratings on this stock with an average target price of $301.0.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $293.
- An analyst from Baird has decided to maintain their Outperform rating on Salesforce, which currently sits at a price target of $310.
- An analyst from Baird has elevated its stance to Outperform, setting a new price target at $300.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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