Deep-pocketed investors have adopted a bullish approach towards Salesforce CRM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CRM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 38 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 42% bearish. Among these notable options, 9 are puts, totaling $567,086, and 29 are calls, amounting to $1,824,460.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $185.0 to $320.0 for Salesforce over the last 3 months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Salesforce's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Salesforce's substantial trades, within a strike price spectrum from $185.0 to $320.0 over the preceding 30 days.
Salesforce Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | CALL | SWEEP | BULLISH | 06/18/26 | $56.95 | $51.95 | $56.9 | $230.00 | $284.5K | 18 | 100 |
| CRM | PUT | SWEEP | BEARISH | 06/20/25 | $24.35 | $22.15 | $23.6 | $230.00 | $211.2K | 718 | 94 |
| CRM | CALL | TRADE | BEARISH | 06/28/24 | $12.2 | $10.0 | $10.0 | $230.00 | $200.0K | 792 | 2 |
| CRM | CALL | SWEEP | BEARISH | 01/17/25 | $5.9 | $5.75 | $5.75 | $300.00 | $144.3K | 3.7K | 331 |
| CRM | CALL | SWEEP | BEARISH | 09/20/24 | $23.2 | $22.65 | $22.65 | $220.00 | $113.2K | 1.5K | 137 |
About Salesforce
Salesforce 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
Where Is Salesforce Standing Right Now?
- Trading volume stands at 10,968,723, with CRM's price down by -0.32%, positioned at $233.68.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 86 days.
Expert Opinions on Salesforce
In the last month, 5 experts released ratings on this stock with an average target price of $267.0.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Salesforce, maintaining a target price of $250.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $250.
- An analyst from DA Davidson has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $230.
- An analyst from Evercore ISI Group persists with their Outperform rating on Salesforce, maintaining a target price of $300.
- An analyst from Barclays has decided to maintain their Overweight rating on Salesforce, which currently sits at a price target of $305.
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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