Smart Money Is Betting Big In NET Options

Investors with a lot of money to spend have taken a bearish stance on Cloudflare NET.

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 NET, 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 12 uncommon options trades for Cloudflare.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $487,657, and 4 are calls, for a total amount of $183,077.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $150.0 for Cloudflare over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Cloudflare stands at 538.86, with a total volume reaching 1,012.00. 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 $95.0 to $150.0, throughout the last 30 days.

Cloudflare 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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

Present Market Standing of Cloudflare

• Trading volume stands at 1,035,050, with NET's price down by -0.46%, positioned at $115.49.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 44 days.

Expert Opinions on Cloudflare

In the last month, 5 experts released ratings on this stock with an average target price of $154.8.

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. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Cloudflare, targeting a price of $161. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Cloudflare with a target price of $148. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Cloudflare, targeting a price of $135. * An analyst from Needham has decided to maintain their Buy rating on Cloudflare, which currently sits at a price target of $145. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $185.

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.