Smart Money Is Betting Big In NET Options

Investors with a lot of money to spend have taken a bullish 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 8 uncommon options trades for Cloudflare.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $165,144, and 5 are calls, for a total amount of $479,462.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $135.0 for Cloudflare, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Cloudflare's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cloudflare's whale trades within a strike price range from $80.0 to $135.0 in the last 30 days.

Cloudflare Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

After a thorough review of the options trading surrounding Cloudflare, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Cloudflare

• With a volume of 1,348,932, the price of NET is up 5.54% at $103.81.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 23 days.

What The Experts Say On Cloudflare

In the last month, 5 experts released ratings on this stock with an average target price of $147.8.

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 UBS persists with their Neutral rating on Cloudflare, maintaining a target price of $135. * In a cautious move, an analyst from Citizens Capital Markets downgraded its rating to Market Outperform, setting a price target of $180. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Cloudflare, targeting a price of $148. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Cloudflare, targeting a price of $145. * An analyst from Piper Sandler persists with their Neutral rating on Cloudflare, maintaining a target price of $131.

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 Cloudflare options trades with real-time alerts from Benzinga Pro.