Whales with a lot of money to spend have taken a noticeably bearish stance on Salesforce.
Looking at options history for Salesforce CRM we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 57% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $430,816 and 8, calls, for a total amount of $272,404.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $350.0 for Salesforce over the last 3 months.
Volume & Open Interest Trends
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 $220.0 to $350.0 in the last 30 days.
Salesforce Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | PUT | SWEEP | BEARISH | 06/21/24 | $9.85 | $9.55 | $9.85 | $270.00 | $172.3K | 3.5K | 257 |
| CRM | PUT | SWEEP | BEARISH | 06/21/24 | $9.7 | $9.7 | $9.7 | $270.00 | $103.7K | 3.5K | 139 |
| CRM | CALL | SWEEP | BULLISH | 09/20/24 | $17.35 | $17.15 | $17.3 | $290.00 | $55.3K | 680 | 2 |
| CRM | PUT | SWEEP | BEARISH | 06/21/24 | $9.8 | $9.8 | $9.8 | $270.00 | $46.0K | 3.5K | 184 |
| CRM | PUT | SWEEP | NEUTRAL | 06/21/24 | $9.75 | $9.75 | $9.75 | $270.00 | $43.8K | 3.5K | 184 |
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.
After a thorough review of the options trading surrounding Salesforce, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Salesforce
- Currently trading with a volume of 1,448,284, the CRM's price is up by 1.25%, now at $275.54.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 26 days.
Expert Opinions on Salesforce
In the last month, 5 experts released ratings on this stock with an average target price of $340.4.
- Reflecting concerns, an analyst from Wolfe Research lowers its rating to Outperform with a new price target of $365.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $350.
- An analyst from Piper Sandler persists with their Neutral rating on Salesforce, maintaining a target price of $300.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $342.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $345.
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 Salesforce options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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