Deep-pocketed investors have adopted a bullish 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 10 extraordinary options activities for Cloudflare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $78,475, and 8 are calls, amounting to $451,000.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $110.0 for Cloudflare over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Cloudflare stands at 570.12, with a total volume reaching 1,625.00. 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 $70.0 to $110.0, throughout the last 30 days.
Cloudflare 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | CALL | TRADE | BEARISH | 12/20/24 | $23.65 | $22.95 | $23.23 | $70.00 | $76.6K | 27 | 33 |
| NET | CALL | SWEEP | BULLISH | 10/18/24 | $21.95 | $21.2 | $21.68 | $70.00 | $71.5K | 60 | 33 |
| NET | CALL | SWEEP | BULLISH | 01/17/25 | $2.68 | $2.62 | $2.68 | $110.00 | $67.2K | 1.6K | 255 |
| NET | CALL | SWEEP | BULLISH | 10/18/24 | $3.15 | $2.64 | $3.15 | $90.00 | $62.0K | 1.2K | 543 |
| NET | CALL | SWEEP | BEARISH | 11/08/24 | $4.65 | $4.6 | $4.6 | $94.00 | $51.0K | 206 | 119 |
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.
Cloudflare's Current Market Status
- With a trading volume of 1,376,225, the price of NET is down by -2.39%, reaching $91.56.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 22 days from now.
What The Experts Say On Cloudflare
1 market experts have recently issued ratings for this stock, with a consensus target price of $65.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Reflecting concerns, an analyst from Exane BNP Paribas lowers its rating to Underperform with a new price target of $65.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cloudflare with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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