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 36% leaning bullish and 45% bearish. Among these notable options, 9 are puts, totaling $428,450, and 2 are calls, amounting to $87,796.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $150.0 for Cloudflare over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Cloudflare stands at 983.3, with a total volume reaching 984.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cloudflare, situated within the strike price corridor from $60.0 to $150.0, throughout the last 30 days.
Cloudflare Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | SWEEP | BEARISH | 11/15/24 | $7.25 | $7.2 | $7.25 | $65.00 | $108.7K | 1.7K | 185 |
| NET | PUT | TRADE | BEARISH | 03/21/25 | $12.15 | $12.05 | $12.15 | $70.00 | $60.7K | 373 | 50 |
| NET | CALL | SWEEP | BULLISH | 11/15/24 | $3.75 | $3.65 | $3.72 | $85.00 | $58.3K | 676 | 159 |
| NET | PUT | TRADE | BEARISH | 07/19/24 | $5.35 | $5.25 | $5.35 | $70.00 | $49.7K | 1.5K | 94 |
| NET | PUT | SWEEP | BULLISH | 11/15/24 | $7.5 | $7.35 | $7.35 | $65.00 | $44.1K | 1.7K | 306 |
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.
Having examined the options trading patterns of Cloudflare, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Cloudflare Standing Right Now?
- Currently trading with a volume of 3,045,749, the NET's price is down by -1.0%, now at $67.01.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 59 days.
Professional Analyst Ratings for Cloudflare
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $92.0.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Cloudflare, which currently sits at a price target of $90.
- Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Cloudflare with a target price of $90.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $80.
- In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $120.
- An analyst from Susquehanna persists with their Neutral rating on Cloudflare, maintaining a target price of $80.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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