Financial giants have made a conspicuous bullish move on Cloudflare. Our analysis of options history for Cloudflare NET revealed 8 unusual trades.
Delving into the details, we found 75% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $448,800, and 6 were calls, valued at $423,377.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $125.0 for Cloudflare during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Cloudflare's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cloudflare's whale trades within a strike price range from $75.0 to $125.0 in the last 30 days.
Cloudflare Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | PUT | TRADE | BEARISH | 01/16/26 | $90.00 | $372.8K | 7 | 0 |
| NET | CALL | TRADE | BULLISH | 08/16/24 | $75.00 | $146.3K | 9 | 70 |
| NET | CALL | TRADE | BULLISH | 06/21/24 | $75.00 | $133.7K | 525 | 75 |
| NET | PUT | TRADE | BEARISH | 01/17/25 | $120.00 | $76.0K | 2 | 0 |
| NET | CALL | SWEEP | BULLISH | 01/19/24 | $87.00 | $48.1K | 69 | 0 |
About Cloudflare
Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy, and execute code without maintaining servers.
Following our analysis of the options activities associated with Cloudflare, we pivot to a closer look at the company's own performance.
Current Position of Cloudflare
- With a volume of 1,008,768, the price of NET is up 0.35% at $86.06.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 43 days.
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 Cloudflare, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
