Expert: Salesforce.com Investors Should Keep This In Mind
Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan discussed salesforce.com, inc. (NYSE: CRM) ahead of its Q4 release and noted that it was up about 7 percent since its last earnings report.
The weekly and monthly $60 Puts both saw action after the stock had come “off a really nice run since February 9,” after which “it gained almost 10 percent,” Kinahan explained.
“Now it's selling off a little bit,” much of that through “natural market movement," he added.
Kinahan said he's not surprised to see Put-sellers in the market; almost all of Salesforce.com's 7 percent gain since the previous earnings release had come since February 9.
Heading into its earnings report, Salesforce.com traded at $62.40, up 0.76 percent.
Kevin Riley and Brianna Valleskey contributed to this report.
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