Check Out What Whales Are Doing With CRM

Deep-pocketed investors have adopted a bearish approach towards Salesforce CRM, 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 CRM usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 41% leaning bullish and 58% bearish. Among these notable options, 3 are puts, totaling $194,446, and 9 are calls, amounting to $485,160.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $160.0 and $270.0 for Salesforce, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Salesforce stands at 1383.27, with a total volume reaching 642.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Salesforce, situated within the strike price corridor from $160.0 to $270.0, throughout the last 30 days.

Salesforce Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Salesforce

Salesforce Inc provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.

Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company's own performance.

Salesforce's Current Market Status

• Trading volume stands at 1,632,782, with CRM's price down by -0.28%, positioned at $256.61.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 76 days.

Expert Opinions on Salesforce

5 market experts have recently issued ratings for this stock, with a consensus target price of $279.4.

• An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $275.
• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Salesforce, targeting a price of $290.
• Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Salesforce, targeting a price of $252.
• Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Salesforce with a target price of $280.
• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Salesforce, targeting a price of $300.

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 Salesforce with Benzinga Pro for real-time alerts.