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 14 extraordinary options activities for Cloudflare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 42% leaning bullish and 57% bearish. Among these notable options, 5 are puts, totaling $1,726,152, and 9 are calls, amounting to $349,793.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $77.5 to $115.0 for Cloudflare over the last 3 months.
Volume & Open Interest Development
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 $77.5 to $115.0, over the past month.
Cloudflare 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | TRADE | BULLISH | 01/17/25 | $1.81 | $1.43 | $1.43 | $77.50 | $1.0M | 351 | 0 |
| NET | PUT | SWEEP | BEARISH | 01/16/26 | $31.9 | $31.85 | $31.85 | $115.00 | $563.7K | 48 | 177 |
| NET | CALL | SWEEP | BULLISH | 12/20/24 | $3.25 | $3.05 | $3.23 | $92.50 | $57.2K | 197 | 261 |
| NET | PUT | TRADE | BEARISH | 11/22/24 | $6.95 | $5.85 | $6.95 | $95.00 | $55.6K | 47 | 160 |
| NET | PUT | TRADE | BEARISH | 11/08/24 | $7.3 | $5.45 | $6.88 | $96.00 | $55.0K | 231 | 86 |
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
Cloudflare's Current Market Status
- With a volume of 905,859, the price of NET is down -7.59% at $88.4.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 90 days.
What The Experts Say On Cloudflare
3 market experts have recently issued ratings for this stock, with a consensus target price of $94.66666666666667.
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. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Cloudflare with a target price of $92. * An analyst from Scotiabank persists with their Sector Perform rating on Cloudflare, maintaining a target price of $87. * An analyst from Mizuho has decided to maintain their Neutral rating on Cloudflare, which currently sits at a price target of $105.
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.
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