This Is What Whales Are Betting On Salesforce

This Is What Whales Are Betting On Salesforce

Someone with a lot of money to spend has taken a bearish stance on Salesforce CRM.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with CRM, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 16 uncommon options trades for Salesforce.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $203,975, and 10 are calls, for a total amount of $553,539.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $152.5 for Salesforce over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Salesforce options trades today is 1539.27 with a total volume of 6,911.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Salesforce's big money trades within a strike price range of $100.0 to $152.5 over the last 30 days.

Salesforce Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CRM CALL SWEEP NEUTRAL 12/16/22 $150.00 $128.6K 1.5K 663
CRM CALL SWEEP NEUTRAL 01/20/23 $145.00 $113.2K 1.4K 323
CRM CALL SWEEP BULLISH 01/20/23 $150.00 $80.5K 1.8K 836
CRM PUT SWEEP BEARISH 12/16/22 $140.00 $57.6K 6.9K 634
CRM CALL TRADE BULLISH 03/17/23 $140.00 $40.8K 124 337

Where Is Salesforce Standing Right Now?

  • With a volume of 6,803,081, the price of CRM is down -9.63% at $144.83.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 89 days.

What The Experts Say On Salesforce:

  • Morgan Stanley has decided to maintain their Overweight rating on Salesforce, which currently sits at a price target of $250.
  • Barclays has decided to maintain their Overweight rating on Salesforce, which currently sits at a price target of $193.
  • RBC Capital has decided to maintain their Outperform rating on Salesforce, which currently sits at a price target of $200.
  • B of A Securities has decided to maintain their Buy rating on Salesforce, which currently sits at a price target of $200.
  • UBS has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $162.

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

Posted In: BZI-UOAOptionsMarkets