High-rolling investors have positioned themselves bullish on Cloudflare NET, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NET often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Cloudflare. This is not a typical pattern.
The sentiment among these major traders is split, with 55% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $38,100, and 8 calls, totaling $439,781.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $81.0 and $120.0 for Cloudflare, spanning the last three months.
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 $81.0 to $120.0, over the past month.
Cloudflare Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | CALL | TRADE | BULLISH | 08/16/24 | $5.0 | $4.75 | $4.92 | $82.50 | $98.4K | 1.1K | 0 |
| NET | CALL | SWEEP | BULLISH | 08/02/24 | $4.05 | $4.0 | $4.05 | $86.00 | $95.1K | 91 | 705 |
| NET | CALL | SWEEP | BULLISH | 08/02/24 | $3.85 | $3.7 | $3.85 | $86.00 | $56.2K | 91 | 522 |
| NET | CALL | SWEEP | NEUTRAL | 08/02/24 | $3.75 | $3.7 | $3.7 | $86.00 | $52.5K | 91 | 335 |
| NET | CALL | SWEEP | BULLISH | 08/02/24 | $3.7 | $3.55 | $3.7 | $86.00 | $41.4K | 91 | 126 |
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.
In light of the recent options history for Cloudflare, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Cloudflare
- With a trading volume of 586,063, the price of NET is up by 2.89%, reaching $80.93.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 9 days from now.
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 Cloudflare, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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