Investors with a lot of money to spend have taken a bearish 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 24 uncommon options trades for Cloudflare.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 41%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $1,025,813, and 15 are calls, for a total amount of $890,819.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $245.0 for Cloudflare over the last 3 months.
Analyzing 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 $115.0 to $245.0 in the last 30 days.
Cloudflare 30-Day Option Volume & Interest Snapshot
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 | BULLISH | 10/17/25 | $10.15 | $9.5 | $9.7 | $190.00 | $611.1K | 1.5K | 638 |
| NET | PUT | SWEEP | BULLISH | 03/20/26 | $47.1 | $47.05 | $47.05 | $230.00 | $141.1K | 14 | 30 |
| NET | CALL | SWEEP | NEUTRAL | 01/16/26 | $55.85 | $55.25 | $55.55 | $155.00 | $138.8K | 807 | 0 |
| NET | CALL | SWEEP | BEARISH | 08/15/25 | $55.85 | $54.3 | $54.75 | $145.00 | $136.8K | 241 | 35 |
| NET | CALL | TRADE | BEARISH | 08/15/25 | $52.0 | $51.05 | $51.39 | $150.00 | $92.5K | 583 | 18 |
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.
Following our analysis of the options activities associated with Cloudflare, we pivot to a closer look at the company's own performance.
Where Is Cloudflare Standing Right Now?
- Trading volume stands at 1,631,573, with NET's price up by 0.32%, positioned at $201.82.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 86 days.
Professional Analyst Ratings for Cloudflare
In the last month, 5 experts released ratings on this stock with an average target price of $201.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Cloudflare with a target price of $240. * Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on Cloudflare with a target price of $220. * Consistent in their evaluation, an analyst from Baird keeps a Neutral rating on Cloudflare with a target price of $175. * Reflecting concerns, an analyst from DZ Bank lowers its rating to Sell with a new price target of $170. * An analyst from Scotiabank persists with their Sector Perform rating on Cloudflare, maintaining a target price of $200.
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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