High-rolling investors have positioned themselves bullish on Salesforce CRM, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CRM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Salesforce. This is not a typical pattern.
The sentiment among these major traders is split, with 60% bullish and 40% bearish. Among all the options we identified, there was one put, amounting to $30,590, and 9 calls, totaling $1,254,325.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $170.0 to $220.0 for Salesforce over the recent three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Salesforce's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Salesforce's significant trades, within a strike price range of $170.0 to $220.0, over the past month.
Salesforce 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | CALL | TRADE | BULLISH | 01/17/25 | $170.00 | $649.7K | 372 | 0 |
| CRM | CALL | SWEEP | BEARISH | 01/16/26 | $210.00 | $291.7K | 14 | 82 |
| CRM | CALL | TRADE | BULLISH | 01/16/26 | $210.00 | $67.7K | 14 | 13 |
| CRM | CALL | TRADE | BULLISH | 01/16/26 | $210.00 | $67.7K | 14 | 13 |
| CRM | CALL | TRADE | BULLISH | 01/19/24 | $210.00 | $51.0K | 4.8K | 69 |
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.
Current Position of Salesforce
- Trading volume stands at 1,656,079, with CRM's price up by 1.35%, positioned at $212.85.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 20 days.
What Analysts Are Saying About Salesforce
In the last month, 1 experts released ratings on this stock with an average target price of $232.0.
- An analyst from Piper Sandler downgraded its action to Neutral with a price target of $232.
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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