Financial giants have made a conspicuous bearish move on Cloudflare. Our analysis of options history for Cloudflare NET revealed 12 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $503,400, and 7 were calls, valued at $240,510.
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What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $120.0 for Cloudflare, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Cloudflare options trades today is 374.1 with a total volume of 1,489.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cloudflare's big money trades within a strike price range of $65.0 to $120.0 over the last 30 days.
Cloudflare Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | TRADE | BULLISH | 07/19/24 | $7.5 | $7.4 | $7.4 | $85.00 | $370.0K | 238 | 538 |
| NET | CALL | TRADE | BULLISH | 11/15/24 | $15.45 | $15.35 | $15.45 | $90.00 | $46.3K | 9 | 50 |
| NET | CALL | TRADE | BEARISH | 06/20/25 | $12.4 | $12.3 | $12.3 | $120.00 | $40.5K | 6 | 33 |
| NET | PUT | TRADE | BEARISH | 05/03/24 | $5.8 | $5.75 | $5.8 | $88.00 | $40.0K | 96 | 147 |
| NET | CALL | SWEEP | BULLISH | 04/26/24 | $3.95 | $3.9 | $3.95 | $85.00 | $39.5K | 488 | 250 |
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.
Cloudflare's Current Market Status
- With a trading volume of 1,650,600, the price of NET is up by 4.32%, reaching $88.35.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 9 days from now.
What Analysts Are Saying About Cloudflare
2 market experts have recently issued ratings for this stock, with a consensus target price of $97.5.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $100.
- Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Cloudflare, targeting a price of $95.
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.
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