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 21 uncommon options trades for Salesforce.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $1,933,250, and 19 are calls, for a total amount of $2,156,669.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $370.0 for Salesforce over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Salesforce options trades today is 1242.81 with a total volume of 1,711.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Salesforce's big money trades within a strike price range of $200.0 to $370.0 over the last 30 days.
Salesforce Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | PUT | TRADE | BEARISH | 07/19/24 | $330.00 | $1.8M | 3 | 400 |
| CRM | CALL | TRADE | BULLISH | 01/16/26 | $290.00 | $999.4K | 1.4K | 0 |
| CRM | CALL | SWEEP | BEARISH | 01/17/25 | $310.00 | $247.2K | 1.7K | 76 |
| CRM | CALL | TRADE | BULLISH | 01/16/26 | $200.00 | $180.1K | 42 | 15 |
| CRM | PUT | SWEEP | BULLISH | 01/16/26 | $200.00 | $125.2K | 1.1K | 1 |
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.
Where Is Salesforce Standing Right Now?
- With a trading volume of 1,586,587, the price of CRM is up by 0.85%, reaching $291.62.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 13 days from now.
What Analysts Are Saying About Salesforce
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $309.3333333333333.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Salesforce with a target price of $310.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $293.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Salesforce, targeting a price of $325.
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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