Deep-pocketed investors have adopted a bearish 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 35 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 45% bearish. Among these notable options, 11 are puts, totaling $654,898, and 24 are calls, amounting to $1,314,996.
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 $195.0 to $290.0 for Salesforce over the last 3 months.
Analyzing Volume & Open Interest
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 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 trades within a strike price range from $195.0 to $290.0 in the last 30 days.
Salesforce Call and Put Volume: 30-Day Overview
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 | 09/20/24 | $4.65 | $4.6 | $4.65 | $290.00 | $177.1K | 1.9K | 725 |
| CRM | CALL | SWEEP | NEUTRAL | 08/16/24 | $9.0 | $8.9 | $8.99 | $260.00 | $133.6K | 5.3K | 1.6K |
| CRM | PUT | TRADE | NEUTRAL | 08/16/24 | $4.4 | $4.2 | $4.3 | $255.00 | $129.0K | 118 | 393 |
| CRM | PUT | SWEEP | NEUTRAL | 06/20/25 | $16.95 | $16.65 | $16.75 | $230.00 | $117.2K | 1.0K | 72 |
| CRM | CALL | SWEEP | BULLISH | 09/20/24 | $4.65 | $4.55 | $4.65 | $290.00 | $109.2K | 1.9K | 952 |
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.
After a thorough review of the options trading surrounding Salesforce, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Salesforce
- Currently trading with a volume of 4,374,707, the CRM's price is up by 2.09%, now at $255.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 34 days.
What The Experts Say On Salesforce
1 market experts have recently issued ratings for this stock, with a consensus target price of $250.0.
- An analyst from Piper Sandler persists with their Neutral rating on Salesforce, maintaining a target price of $250.
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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