Whales with a lot of money to spend have taken a noticeably bullish stance on Salesforce.
Looking at options history for Salesforce CRM we detected 20 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 35% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $736,658 and 4, calls, for a total amount of $214,590.
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 $160.0 to $290.0 for Salesforce during the past quarter.
Volume & Open Interest Development
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 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 trades within a strike price range from $160.0 to $290.0 in the last 30 days.
Salesforce Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | CALL | TRADE | NEUTRAL | 06/21/24 | $112.35 | $110.9 | $111.5 | $160.00 | $111.5K | 246 | 10 |
| CRM | PUT | SWEEP | BULLISH | 01/17/25 | $16.85 | $16.5 | $16.5 | $250.00 | $103.9K | 1.9K | 204 |
| CRM | PUT | SWEEP | BULLISH | 01/17/25 | $16.85 | $16.5 | $16.5 | $250.00 | $61.0K | 1.9K | 250 |
| CRM | PUT | SWEEP | NEUTRAL | 10/18/24 | $11.45 | $11.2 | $11.32 | $250.00 | $56.6K | 516 | 50 |
| CRM | PUT | TRADE | BULLISH | 06/21/24 | $18.15 | $18.1 | $18.1 | $280.00 | $56.1K | 1.8K | 59 |
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.
Having examined the options trading patterns of Salesforce, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Salesforce Standing Right Now?
- Currently trading with a volume of 5,212,232, the CRM's price is down by -2.47%, now at $268.92.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 29 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 $349.4.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $350.
- Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Salesforce, targeting a price of $360.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $345.
- In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $342.
- An analyst from Stifel persists with their Buy rating on Salesforce, maintaining a target price of $350.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Salesforce, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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