Investors with a lot of money to spend have taken a bullish stance on Cloudflare (NYSE: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 9 uncommon options trades for Cloudflare.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $154,712, and 6 are calls, for a total amount of $268,460.

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 $80.0 and $160.0 for Cloudflare, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Cloudflare stands at 727.29, with a total volume reaching 767.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cloudflare, situated within the strike price corridor from $80.0 to $160.0, throughout the last 30 days.

Cloudflare 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

After a thorough review of the options trading surrounding Cloudflare, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Cloudflare

• With a trading volume of 1,724,752, the price of NET is up by 2.34%, reaching $122.88.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 50 days from now.

What The Experts Say On Cloudflare

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $185.0.

Unusual Options Activity Detected: Smart Money on the Move

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.