Deep-pocketed investors have adopted a bearish approach towards Salesforce CRM, 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 CRM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 21% leaning bullish and 42% bearish. Among these notable options, 2 are puts, totaling $55,790, and 12 are calls, amounting to $616,335.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $230.0 to $330.0 for Salesforce during the past quarter.
Volume & Open Interest Development
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 $230.0 to $330.0 in the last 30 days.
Salesforce Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | CALL | SWEEP | BULLISH | 09/20/24 | $6.85 | $6.45 | $6.5 | $280.00 | $104.0K | 1.8K | 0 |
| CRM | CALL | SWEEP | NEUTRAL | 08/16/24 | $9.6 | $9.3 | $9.5 | $260.00 | $97.8K | 3.3K | 681 |
| CRM | CALL | SWEEP | BEARISH | 08/16/24 | $9.6 | $9.5 | $9.5 | $260.00 | $69.3K | 3.3K | 681 |
| CRM | CALL | SWEEP | BEARISH | 09/20/24 | $12.8 | $12.2 | $12.2 | $270.00 | $67.1K | 2.4K | 71 |
| CRM | CALL | TRADE | NEUTRAL | 06/28/24 | $14.55 | $12.55 | $13.57 | $240.00 | $54.2K | 1.9K | 0 |
About Salesforce
Salesforce 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.
Where Is Salesforce Standing Right Now?
- With a trading volume of 1,856,178, the price of CRM is up by 1.71%, reaching $257.18.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 61 days from now.
Professional Analyst Ratings for Salesforce
5 market experts have recently issued ratings for this stock, with a consensus target price of $262.8.
- An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Salesforce, which currently sits at a price target of $250.
- An analyst from UBS has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $250.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Salesforce, which currently sits at a price target of $280.
- An analyst from Bernstein persists with their Underperform rating on Salesforce, maintaining a target price of $234.
- An analyst from Mizuho persists with their Buy rating on Salesforce, maintaining a target price of $300.
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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