Deep-pocketed investors have adopted a bearish approach towards Salesforce CRM, 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 CRM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 30 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 26% leaning bullish and 73% bearish. Among these notable options, 11 are puts, totaling $349,611, and 19 are calls, amounting to $1,594,694.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $350.0 for Salesforce over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Salesforce's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Salesforce's significant trades, within a strike price range of $220.0 to $350.0, over the past month.
Salesforce Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | CALL | TRADE | NEUTRAL | 01/19/24 | $230.00 | $329.0K | 6.5K | 5 |
| CRM | CALL | TRADE | BEARISH | 01/17/25 | $240.00 | $219.2K | 1.8K | 53 |
| CRM | CALL | TRADE | NEUTRAL | 04/19/24 | $240.00 | $212.1K | 556 | 13 |
| CRM | CALL | SWEEP | BEARISH | 01/17/25 | $270.00 | $141.1K | 356 | 53 |
| CRM | CALL | TRADE | BEARISH | 01/17/25 | $340.00 | $131.2K | 411 | 150 |
About Salesforce
Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.
Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company's own performance.
Where Is Salesforce Standing Right Now?
- With a volume of 1,940,959, the price of CRM is down -0.38% at $249.7.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 85 days.
Professional Analyst Ratings for Salesforce
In the last month, 5 experts released ratings on this stock with an average target price of $270.0.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Salesforce, targeting a price of $285.
- An analyst from Citigroup persists with their Neutral rating on Salesforce, maintaining a target price of $247.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Salesforce, targeting a price of $252.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Salesforce with a target price of $266.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Salesforce with a target price of $300.
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 Salesforce options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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