Investors with a lot of money to spend have taken a bullish stance on Salesforce CRM.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CRM, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for Salesforce.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 28%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $462,851, and 6 are calls, for a total amount of $227,720.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $375.0 for Salesforce during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Salesforce stands at 934.7, with a total volume reaching 785.00. 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 $200.0 to $375.0, throughout 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | PUT | TRADE | NEUTRAL | 06/28/24 | $134.85 | $131.7 | $133.08 | $375.00 | $133.0K | 0 | 0 |
| CRM | PUT | TRADE | NEUTRAL | 07/05/24 | $130.05 | $126.05 | $128.42 | $370.00 | $64.2K | 0 | 0 |
| CRM | PUT | TRADE | NEUTRAL | 07/05/24 | $130.0 | $126.05 | $128.01 | $370.00 | $64.0K | 0 | 5 |
| CRM | PUT | SWEEP | BULLISH | 11/15/24 | $3.25 | $3.15 | $3.15 | $200.00 | $61.7K | 174 | 24 |
| CRM | CALL | SWEEP | BEARISH | 08/16/24 | $3.1 | $3.0 | $3.0 | $260.00 | $48.3K | 3.5K | 82 |
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.
Current Position of Salesforce
- With a trading volume of 1,789,653, the price of CRM is up by 0.44%, reaching $241.0.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 64 days from now.
Expert Opinions on Salesforce
5 market experts have recently issued ratings for this stock, with a consensus target price of $278.0.
- An analyst from Citigroup has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $260.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Salesforce with a target price of $295.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Salesforce with a target price of $305.
- An analyst from DA Davidson has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $230.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Salesforce, targeting a price of $300.
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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