A whale with a lot of money to spend has taken a noticeably bearish stance on Salesforce.
Looking at options history for Salesforce CRM we detected 32 strange trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $279,820 and 26, calls, for a total amount of $1,084,969.
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 $165.0 to $250.0 for Salesforce over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Salesforce options trades today is 2647.12 with a total volume of 3,452.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Salesforce's big money trades within a strike price range of $165.0 to $250.0 over the last 30 days.
Salesforce 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 |
|---|---|---|---|---|---|---|---|---|
| CRM | PUT | SWEEP | BEARISH | 08/18/23 | $230.00 | $117.7K | 1.2K | 455 |
| CRM | CALL | TRADE | NEUTRAL | 07/14/23 | $170.00 | $93.8K | 22 | 16 |
| CRM | CALL | SWEEP | BEARISH | 08/18/23 | $220.00 | $73.2K | 6.0K | 186 |
| CRM | CALL | TRADE | BEARISH | 01/19/24 | $165.00 | $70.2K | 4.6K | 1 |
| CRM | CALL | TRADE | NEUTRAL | 07/14/23 | $190.00 | $59.4K | 67 | 65 |
Where Is Salesforce Standing Right Now?
- With a volume of 3,236,764, the price of CRM is down -0.82% at $228.48.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 40 days.
What The Experts Say On Salesforce:
- BMO Capital has decided to maintain their Outperform rating on Salesforce, which currently sits at a price target of $255.
- B of A Securities downgraded its action to Buy with a price target of $250
- Needham has decided to maintain their Buy rating on Salesforce, which currently sits at a price target of $250.
- Evercore ISI Group downgraded its action to Outperform with a price target of $240
- Mizuho has decided to maintain their Buy rating on Salesforce, which currently sits at a price target of $250.
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 Salesforce, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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