Investors with a lot of money to spend have taken a bullish stance on Cloudflare NET.
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 NET, 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 13 uncommon options trades for Cloudflare.
This isn't normal.
The overall sentiment of these big-money traders is split between 69% bullish and 30%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $363,984, and 7 are calls, for a total amount of $260,876.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $100.0 for Cloudflare over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Cloudflare's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cloudflare's significant trades, within a strike price range of $60.0 to $100.0, over the past month.
Cloudflare Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | TRADE | BEARISH | 09/20/24 | $7.2 | $7.15 | $7.2 | $80.00 | $144.0K | 918 | 221 |
| NET | PUT | SWEEP | BULLISH | 05/03/24 | $4.0 | $3.85 | $3.9 | $86.00 | $80.3K | 199 | 0 |
| NET | CALL | SWEEP | BULLISH | 05/03/24 | $5.55 | $5.45 | $5.55 | $90.00 | $54.3K | 292 | 18 |
| NET | CALL | SWEEP | BULLISH | 05/03/24 | $2.35 | $2.3 | $2.35 | $100.00 | $42.3K | 594 | 1.4K |
| NET | PUT | TRADE | BEARISH | 05/17/24 | $6.3 | $6.25 | $6.3 | $89.00 | $40.9K | 121 | 102 |
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.
Having examined the options trading patterns of Cloudflare, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Cloudflare Standing Right Now?
- With a trading volume of 2,646,325, the price of NET is up by 1.58%, reaching $89.4.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 3 days from now.
Expert Opinions on Cloudflare
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $97.5.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $100.
- An analyst from Mizuho has decided to maintain their Neutral rating on Cloudflare, which currently sits at a price target 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.
© 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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