What the Options Market Tells Us About Salesforce

High-rolling investors have positioned themselves bearish on Salesforce CRM, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CRM often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 9 options trades for Salesforce. This is not a typical pattern.

The sentiment among these major traders is split, with 22% bullish and 77% bearish. Among all the options we identified, there was one put, amounting to $45,630, and 8 calls, totaling $1,105,974.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $250.0 and $360.0 for Salesforce, spanning the last three months.

Insights into 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 Salesforce'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 Salesforce's whale activity within a strike price range from $250.0 to $360.0 in the last 30 days.

Salesforce 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Salesforce

Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.

Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company's own performance.

Current Position of Salesforce

• Currently trading with a volume of 669,325, the CRM's price is down by -0.13%, now at $301.06.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 70 days.

Expert Opinions on Salesforce

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $333.0.

• Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Salesforce with a target price of $300.
• An analyst from JP Morgan persists with their Overweight rating on Salesforce, maintaining a target price of $310.
• An analyst from Mizuho has revised its rating downward to Buy, adjusting the price target to $345.
• In a cautious move, an analyst from Truist Securities downgraded its rating to Buy, setting a price target of $360.
• Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Salesforce with a target price of $350.

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 Salesforce with Benzinga Pro for real-time alerts.