Smart Money Is Betting Big In CFLT Options

Investors with a lot of money to spend have taken a bullish stance on Confluent CFLT.

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 CFLT, 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 23 uncommon options trades for Confluent.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 47%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $675,220, and 21 are calls, for a total amount of $1,344,786.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $28.0 and $40.0 for Confluent, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Confluent stands at 1665.57, with a total volume reaching 41,184.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Confluent, situated within the strike price corridor from $28.0 to $40.0, throughout the last 30 days.

Confluent Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Confluent

Confluent Inc provides a data streaming platform that enables customers to connect their applications, systems, and data layers and can be deployed as a fully managed cloud-native software-as-a-service (SaaS) offering. Its products include Confluent Cloud, a self-managed software offering, Confluent Platform, a managed service offering where the raw data resides inside a customer's cloud environment, and WarpStream, among others. Confluent also offers professional services and education services. The company generates revenue from the sale of subscriptions and services. Geographically, it generates a majority of its revenue from its business in the United States and the rest from International markets.

Present Market Standing of Confluent

• Currently trading with a volume of 3,314,441, the CFLT's price is up by 1.05%, now at $30.76.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 69 days.

Expert Opinions on Confluent

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $38.4.

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 Stifel persists with their Buy rating on Confluent, maintaining a target price of $40. * An analyst from Evercore ISI Group persists with their Outperform rating on Confluent, maintaining a target price of $40. * An analyst from Needham persists with their Buy rating on Confluent, maintaining a target price of $40. * In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $38. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Confluent with a target price of $34.

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 Confluent with Benzinga Pro for real-time alerts.