Investors with a lot of money to spend have taken a bearish stance on Salesforce CRM.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CRM, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 17 uncommon options trades for Salesforce.
This isn't normal.
The overall sentiment of these big-money traders is split between 41% bullish and 52%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $204,941, and 14 are calls, for a total amount of $681,129.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $240.0 to $330.0 for Salesforce during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Salesforce's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Salesforce's substantial trades, within a strike price spectrum from $240.0 to $330.0 over the preceding 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 | TRADE | BULLISH | 11/15/24 | $6.9 | $6.85 | $6.85 | $280.00 | $123.9K | 753 | 258 |
| CRM | CALL | TRADE | BEARISH | 12/20/24 | $43.25 | $42.8 | $42.91 | $250.00 | $107.2K | 740 | 27 |
| CRM | CALL | SWEEP | BEARISH | 11/08/24 | $3.9 | $3.25 | $3.25 | $305.00 | $96.8K | 10 | 405 |
| CRM | CALL | TRADE | BULLISH | 01/17/25 | $37.55 | $37.35 | $37.55 | $260.00 | $75.1K | 2.1K | 30 |
| CRM | CALL | TRADE | BULLISH | 01/17/25 | $53.5 | $53.45 | $53.5 | $240.00 | $53.5K | 1.6K | 13 |
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.
Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company's own performance.
Present Market Standing of Salesforce
- With a trading volume of 1,761,496, the price of CRM is down by -0.59%, reaching $286.05.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 51 days from now.
Professional Analyst Ratings for Salesforce
In the last month, 5 experts released ratings on this stock with an average target price of $322.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from RBC Capital downgraded its action to Outperform with a price target of $300. * An analyst from Truist Securities downgraded its action to Buy with a price target of $315. * An analyst from Piper Sandler has elevated its stance to Overweight, setting a new price target at $325. * Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Salesforce with a target price of $325. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $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.
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