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 45 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 19 are puts, totaling $1,820,616, and 26 are calls, amounting to $1,735,840.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $135.0 to $360.0 for Salesforce over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Salesforce'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 Salesforce's whale trades within a strike price range from $135.0 to $360.0 in the last 30 days.
Salesforce Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | CALL | SWEEP | BEARISH | 03/15/24 | $150.00 | $293.7K | 7 | 25 |
| CRM | CALL | TRADE | BEARISH | 01/19/24 | $270.00 | $217.5K | 6.7K | 584 |
| CRM | PUT | TRADE | BULLISH | 06/20/25 | $360.00 | $162.0K | 0 | 34 |
| CRM | PUT | TRADE | BULLISH | 06/20/25 | $360.00 | $162.0K | 0 | 17 |
| CRM | PUT | TRADE | NEUTRAL | 06/20/25 | $360.00 | $143.3K | 0 | 110 |
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.
After a thorough review of the options trading surrounding Salesforce, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Salesforce
- Currently trading with a volume of 2,309,286, the CRM's price is down by -0.09%, now at $266.1.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 64 days.
Professional Analyst Ratings for Salesforce
5 market experts have recently issued ratings for this stock, with a consensus target price of $292.0.
- An analyst from Wolfe Research has elevated its stance to Outperform, setting a new price target at $315.
- An analyst from B of A Securities has decided to maintain their Buy rating on Salesforce, which currently sits at a price target of $300.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Salesforce with a target price of $290.
- An analyst from Mizuho persists with their Buy rating on Salesforce, maintaining a target price of $280.
- An analyst from Needham persists with their Buy rating on Salesforce, maintaining a target price of $275.
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.
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