A whale with a lot of money to spend has taken a noticeably bearish stance on Cloudflare.
Looking at options history for Cloudflare NET we detected 15 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $321,146 and 9, calls, for a total amount of $365,066.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $115.0 for Cloudflare over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Cloudflare options trades today is 391.29 with a total volume of 934.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cloudflare's big money trades within a strike price range of $80.0 to $115.0 over the last 30 days.
Cloudflare Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | PUT | SWEEP | BEARISH | 02/18/22 | $115.00 | $91.3K | 525 | 124 |
| NET | CALL | SWEEP | BEARISH | 02/18/22 | $111.00 | $86.8K | 152 | 103 |
| NET | PUT | TRADE | BEARISH | 02/18/22 | $110.00 | $85.0K | 1.0K | 143 |
| NET | PUT | SWEEP | BULLISH | 02/18/22 | $106.00 | $55.2K | 139 | 108 |
| NET | CALL | SWEEP | NEUTRAL | 06/17/22 | $100.00 | $53.9K | 117 | 26 |
Where Is Cloudflare Standing Right Now?
- With a volume of 2,529,074, the price of NET is up 1.53% at $111.64.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 1 days.
What The Experts Say On Cloudflare:
- Stifel downgraded its action to Hold with a price target of $113
- Credit Suisse upgraded its action to Outperform with a price target of $140
- Keybanc downgraded its action to Overweight with a price target of $132
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
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