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 18 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $180,010 and 14, calls, for a total amount of $4,485,230.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $120.0 for Cloudflare during the past quarter.
Volume & Open Interest Development
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 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 activity within a strike price range from $55.0 to $120.0 in the last 30 days.
Cloudflare 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 |
|---|---|---|---|---|---|---|---|---|
| NET | CALL | SWEEP | BULLISH | 05/17/24 | $80.00 | $3.5M | 2.5K | 343 |
| NET | CALL | TRADE | BEARISH | 04/19/24 | $95.00 | $152.1K | 2.0K | 933 |
| NET | CALL | TRADE | BULLISH | 04/19/24 | $95.00 | $131.6K | 2.0K | 43 |
| NET | CALL | TRADE | BULLISH | 04/19/24 | $55.00 | $130.0K | 23 | 33 |
| NET | CALL | TRADE | BEARISH | 01/16/26 | $90.00 | $112.3K | 205 | 35 |
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.
Where Is Cloudflare Standing Right Now?
- Trading volume stands at 1,818,508, with NET's price up by 0.62%, positioned at $96.49.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 42 days.
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.
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