Whales with a lot of money to spend have taken a noticeably bearish stance on Cloudflare.
Looking at options history for Cloudflare NET we detected 24 trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $263,905 and 18, calls, for a total amount of $1,221,043.
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 $55.0 to $120.0 for Cloudflare 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 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 $55.0 to $120.0, over the past month.
Cloudflare Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | CALL | TRADE | BULLISH | 12/20/24 | $105.00 | $305.0K | 0 | 501 |
| NET | CALL | SWEEP | BULLISH | 02/16/24 | $95.00 | $172.1K | 1.1K | 7 |
| NET | CALL | SWEEP | BEARISH | 09/20/24 | $115.00 | $148.2K | 15 | 313 |
| NET | CALL | SWEEP | BEARISH | 12/20/24 | $115.00 | $94.2K | 0 | 21 |
| NET | PUT | TRADE | BEARISH | 02/16/24 | $85.00 | $76.1K | 510 | 164 |
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.
In light of the recent options history for Cloudflare, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Cloudflare
- Trading volume stands at 3,781,863, with NET's price up by 3.11%, positioned at $83.88.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 17 days.
Expert Opinions on Cloudflare
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $92.0.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Cloudflare, targeting a price of $94.
- An analyst from Truist Securities persists with their Buy rating on Cloudflare, maintaining a target price of $90.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
