Market Whales and Their Recent Bets on NET Options

Deep-pocketed investors have adopted a bullish approach towards Cloudflare NET, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NET usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Cloudflare. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $152,621, and 6 are calls, amounting to $209,026.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $110.0 for Cloudflare during the past quarter.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Cloudflare'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 Cloudflare's whale activity within a strike price range from $60.0 to $110.0 in the last 30 days.

Cloudflare 30-Day Option Volume & Interest Snapshot

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 NEUTRAL 09/20/24 $39.15 $35.25 $37.48 $110.00 $74.9K 40 20
NET CALL TRADE BULLISH 01/16/26 $12.0 $11.4 $12.0 $95.00 $48.0K 258 41
NET CALL TRADE NEUTRAL 01/16/26 $18.6 $16.35 $17.65 $85.00 $44.1K 173 25
NET PUT SWEEP BEARISH 06/21/24 $2.63 $2.62 $2.63 $70.00 $39.7K 4.7K 185
NET PUT SWEEP BULLISH 06/07/24 $1.79 $1.78 $1.79 $71.00 $37.9K 46 251

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 volume of 2,192,801, the price of NET is down -5.49% at $71.07.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 63 days.

Expert Opinions on Cloudflare

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $104.0.

  • Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Cloudflare, targeting a price of $105.
  • An analyst from Baird persists with their Outperform rating on Cloudflare, maintaining a target price of $94.
  • Maintaining their stance, an analyst from UBS continues to hold a Sell rating for Cloudflare, targeting a price of $76.
  • An analyst from TD Cowen has decided to maintain their Buy rating on Cloudflare, which currently sits at a price target of $110.
  • Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $135.

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 Cloudflare, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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