Investors with a lot of money to spend have taken a bearish stance on Salesforce CRM.
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 CRM, 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 25 uncommon options trades for Salesforce.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 56%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $57,150, and 23 are calls, for a total amount of $3,115,929.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $165.0 to $320.0 for Salesforce over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Salesforce stands at 1070.0, with a total volume reaching 2,724.00. 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 $165.0 to $320.0, throughout the last 30 days.
Salesforce Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | CALL | TRADE | BEARISH | 02/16/24 | $210.00 | $1.5M | 1.0K | 271 |
| CRM | CALL | TRADE | BULLISH | 01/16/26 | $320.00 | $339.0K | 58 | 100 |
| CRM | CALL | SWEEP | BEARISH | 01/17/25 | $300.00 | $332.6K | 2.8K | 149 |
| CRM | CALL | SWEEP | BULLISH | 01/19/24 | $265.00 | $85.1K | 240 | 131 |
| CRM | CALL | TRADE | BEARISH | 01/17/25 | $200.00 | $83.4K | 1.6K | 15 |
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.
Having examined the options trading patterns of Salesforce, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Salesforce's Current Market Status
- With a trading volume of 2,613,465, the price of CRM is up by 0.17%, reaching $264.05.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 71 days from now.
Professional Analyst Ratings for Salesforce
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $271.4.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $266.
- An analyst from Citigroup persists with their Neutral rating on Salesforce, maintaining a target price of $247.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Salesforce, targeting a price of $277.
- In a positive move, an analyst from Wolfe Research has upgraded their rating to Outperform and adjusted the price target to $315.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Salesforce, targeting a price of $252.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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