Deep-pocketed investors have adopted a bearish approach towards Cloudflare NET, 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 NET usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Cloudflare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 54% bearish. Among these notable options, 2 are puts, totaling $88,704, and 9 are calls, amounting to $364,323.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $135.0 for Cloudflare during the past quarter.
Analyzing Volume & Open Interest
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 $70.0 to $135.0, over the past month.
Cloudflare Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | CALL | SWEEP | BEARISH | 04/19/24 | $120.00 | $77.3K | 3.6K | 1 |
| NET | CALL | SWEEP | BULLISH | 11/15/24 | $125.00 | $74.6K | 3 | 14 |
| NET | PUT | SWEEP | NEUTRAL | 04/19/24 | $98.00 | $52.3K | 1.0K | 2 |
| NET | PUT | SWEEP | BULLISH | 04/19/24 | $95.00 | $36.3K | 8.5K | 15 |
| NET | CALL | SWEEP | BEARISH | 12/20/24 | $125.00 | $36.0K | 178 | 39 |
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.
After a thorough review of the options trading surrounding Cloudflare, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Cloudflare
- Trading volume stands at 1,476,047, with NET's price up by 2.24%, positioned at $100.17.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 35 days.
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 Cloudflare with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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