Financial giants have made a conspicuous bearish move on Cloudflare. Our analysis of options history for Cloudflare NET revealed 11 unusual trades.
Delving into the details, we found 45% of traders were bullish, while 54% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $59,194, and 9 were calls, valued at $683,613.
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 $30.0 to $100.0 for Cloudflare over the last 3 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 Cloudflare'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 Cloudflare's whale trades within a strike price range from $30.0 to $100.0 in the last 30 days.
Cloudflare Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | CALL | SWEEP | BULLISH | 06/21/24 | $85.00 | $152.6K | 1.8K | 151 |
| NET | CALL | SWEEP | BULLISH | 01/17/25 | $65.00 | $133.0K | 740 | 58 |
| NET | CALL | TRADE | BEARISH | 01/17/25 | $65.00 | $132.3K | 740 | 50 |
| NET | CALL | TRADE | BULLISH | 06/21/24 | $85.00 | $109.9K | 1.8K | 279 |
| NET | CALL | TRADE | BEARISH | 08/16/24 | $100.00 | $36.0K | 148 | 235 |
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.
Having examined the options trading patterns of Cloudflare, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Cloudflare
- Trading volume stands at 1,851,022, with NET's price down by -0.09%, positioned at $80.75.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 2 days.
Professional Analyst Ratings for Cloudflare
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $92.25.
- An analyst from Keybanc has decided to maintain their Overweight rating on Cloudflare, which currently sits at a price target of $94.
- An analyst from Truist Securities persists with their Buy rating on Cloudflare, maintaining a target price of $90.
- Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Cloudflare, targeting a price of $90.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Cloudflare, which currently sits at a price target of $95.
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 Cloudflare options trades with real-time alerts from Benzinga Pro.
© 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.
