Deep-pocketed investors have adopted a bearish approach towards Confluent CFLT, 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 CFLT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Confluent. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 41% leaning bullish and 58% bearish. Among these notable options, 7 are puts, totaling $316,757, and 5 are calls, amounting to $374,273.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $22.0 to $28.0 for Confluent over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Confluent'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 Confluent's whale activity within a strike price range from $22.0 to $28.0 in the last 30 days.
Confluent Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CFLT | CALL | SWEEP | BEARISH | 04/19/24 | $28.00 | $142.3K | 2.2K | 865 |
| CFLT | CALL | SWEEP | BULLISH | 02/16/24 | $26.00 | $97.4K | 778 | 680 |
| CFLT | PUT | SWEEP | NEUTRAL | 03/15/24 | $22.00 | $95.0K | 54 | 609 |
| CFLT | CALL | SWEEP | BEARISH | 03/15/24 | $25.00 | $62.4K | 134 | 295 |
| CFLT | PUT | SWEEP | BEARISH | 03/15/24 | $24.00 | $45.9K | 65 | 170 |
About Confluent
Confluent Inc is a new category of data infrastructure designed to connect all the applications, systems, and data layers of a company around a real-time central nervous system. Its products include Confluent Platform; Connectors; ksqlDB and others. The company generates revenue from the sale of subscriptions and services. Geographically, it derives a majority of its revenue from the United States. It provides solutions to Financial Services; Insurance; Retail and eCommerce; Automotive; Government and other sectors.
Present Market Standing of Confluent
- With a trading volume of 6,537,894, the price of CFLT is up by 0.21%, reaching $23.53.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 0 days from now.
What Analysts Are Saying About Confluent
3 market experts have recently issued ratings for this stock, with a consensus target price of $26.333333333333332.
- An analyst from UBS has decided to maintain their Neutral rating on Confluent, which currently sits at a price target of $26.
- Reflecting concerns, an analyst from Loop Capital lowers its rating to Hold with a new price target of $23.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $30.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Confluent with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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