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 37 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 56% leaning bullish and 29% bearish. Among these notable options, 10 are puts, totaling $505,221, and 27 are calls, amounting to $7,193,209.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $310.0 for Salesforce, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Salesforce stands at 1812.15, with a total volume reaching 15,383.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Salesforce, situated within the strike price corridor from $140.0 to $310.0, throughout the last 30 days.
Salesforce Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | CALL | TRADE | BULLISH | 06/18/26 | $51.6 | $50.05 | $52.7 | $240.00 | $4.9M | 1.9K | 1 |
| CRM | CALL | SWEEP | BULLISH | 06/18/26 | $51.5 | $49.55 | $51.5 | $240.00 | $463.9K | 1.9K | 1.1K |
| CRM | CALL | TRADE | NEUTRAL | 01/17/25 | $98.5 | $96.8 | $97.76 | $140.00 | $293.2K | 151 | 30 |
| CRM | PUT | TRADE | BULLISH | 01/17/25 | $7.7 | $7.5 | $7.5 | $200.00 | $150.0K | 3.4K | 206 |
| CRM | CALL | TRADE | BULLISH | 06/21/24 | $14.5 | $14.5 | $14.5 | $220.00 | $145.0K | 3.9K | 136 |
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.
Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company's own performance.
Present Market Standing of Salesforce
- With a volume of 5,888,256, the price of CRM is down -0.47% at $233.75.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 84 days.
What Analysts Are Saying About Salesforce
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $262.8.
- An analyst from DA Davidson persists with their Neutral rating on Salesforce, maintaining a target price of $230.
- An analyst from JP Morgan persists with their Overweight rating on Salesforce, maintaining a target price of $300.
- An analyst from Bernstein has decided to maintain their Underperform rating on Salesforce, which currently sits at a price target of $234.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Salesforce, maintaining a target price of $250.
- An analyst from Evercore ISI Group persists with their Outperform rating on Salesforce, maintaining a target price of $300.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Salesforce with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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