High-rolling investors have positioned themselves bearish 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 11 options trades for Salesforce. This is not a typical pattern.
The sentiment among these major traders is split, with 45% bullish and 54% bearish. Among all the options we identified, there was one put, amounting to $165,702, and 10 calls, totaling $591,933.
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 $340.0 for Salesforce, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Salesforce'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 Salesforce's whale activity within a strike price range from $160.0 to $340.0 in the last 30 days.
Salesforce Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CRM | PUT | SWEEP | BEARISH | 01/17/25 | $340.00 | $165.7K | 0 | 21 |
| CRM | CALL | SWEEP | BULLISH | 02/02/24 | $260.00 | $125.1K | 96 | 457 |
| CRM | CALL | TRADE | NEUTRAL | 01/12/24 | $225.00 | $115.9K | 14 | 0 |
| CRM | CALL | SWEEP | BEARISH | 02/02/24 | $275.00 | $60.1K | 2.5K | 828 |
| CRM | CALL | TRADE | BEARISH | 01/19/24 | $260.00 | $55.2K | 6.0K | 444 |
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.
Where Is Salesforce Standing Right Now?
- Trading volume stands at 1,081,285, with CRM's price up by 2.76%, positioned at $258.06.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 51 days.
Expert Opinions on Salesforce
In the last month, 4 experts released ratings on this stock with an average target price of $307.5.
- An analyst from Wells Fargo has revised its rating downward to Equal-Weight, adjusting the price target to $280.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $285.
- An analyst from Wolfe Research has elevated its stance to Outperform, setting a new price target at $315.
- In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $350.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Salesforce options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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