Cloudflare Unusual Options Activity - Cloudflare (NYSE:NET)

Investors with a lot of money to spend have taken a bearish 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 18 uncommon options trades for Cloudflare.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $414,047, and 7 are calls, for a total amount of $301,068.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $120.0 for Cloudflare over the recent three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cloudflare's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cloudflare's substantial trades, within a strike price spectrum from $60.0 to $120.0 over the preceding 30 days.

Cloudflare Option Volume And Open Interest Over Last 30 Days

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	06/21/24	$4.7	$4.6	$4.6	$75.00	$72.6K	2.4K	47
NET	CALL	SWEEP	BEARISH	06/21/24	$2.04	$2.03	$2.03	$80.00	$62.5K	4.3K	322
NET	PUT	SWEEP	BULLISH	07/19/24	$3.35	$3.25	$3.25	$70.00	$53.9K	538	183
NET	CALL	TRADE	BEARISH	06/21/24	$1.82	$1.77	$1.77	$80.00	$53.1K	4.3K	10
NET	CALL	SWEEP	BEARISH	12/20/24	$8.15	$8.05	$8.05	$85.00	$49.1K	112	63

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.

In light of the recent options history for Cloudflare, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Cloudflare's Current Market Status

With a trading volume of 1,472,066, the price of NET is up by 1.46%, reaching $73.51.
Current RSI values indicate that the stock is may be oversold.
Next earnings report is scheduled for 84 days from now.

What The Experts Say On Cloudflare

5 market experts have recently issued ratings for this stock, with a consensus target price of $88.0.

An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $100.
An analyst from Wells Fargo has decided to maintain their Overweight rating on Cloudflare, which currently sits at a price target of $105.
An analyst from Baird persists with their Outperform rating on Cloudflare, maintaining a target price of $94.
An analyst from B of A Securities persists with their Underperform rating on Cloudflare, maintaining a target price of $60.
An analyst from Piper Sandler downgraded its action to Neutral with a price target of $81.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cloudflare options trades with real-time alerts from Benzinga Pro.

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