Investors with a lot of money to spend have taken a bullish stance on Cloudflare 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 13 uncommon options trades for Cloudflare.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $380,723, and 5 are calls, for a total amount of $183,140.
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 $77.0 to $115.0 for Cloudflare during the past quarter.
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 Cloudflare's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cloudflare's significant trades, within a strike price range of $77.0 to $115.0, over the past month.
Cloudflare 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | PUT | SWEEP | BEARISH | 01/12/24 | $77.00 | $71.1K | 13 | 2 |
| NET | PUT | SWEEP | BEARISH | 01/05/24 | $82.00 | $59.9K | 17 | 0 |
| NET | PUT | SWEEP | BULLISH | 01/05/24 | $80.00 | $56.8K | 188 | 466 |
| NET | CALL | TRADE | BULLISH | 01/17/25 | $110.00 | $54.0K | 102 | 50 |
| NET | PUT | SWEEP | BULLISH | 01/26/24 | $115.00 | $45.7K | 41 | 61 |
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.
Current Position of Cloudflare
- With a volume of 929,849, the price of NET is up 0.29% at $85.1.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 48 days.
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.
© 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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