Investors with a lot of money to spend have taken a bullish stance on Cloudflare NET.
And retail traders should know.
We noticed this today when the positions 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 NET, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Cloudflare.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $119,480, and 8, calls, for a total amount of $530,735.
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 $70.0 to $85.0 for Cloudflare during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cloudflare's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cloudflare's substantial trades, within a strike price spectrum from $70.0 to $85.0 over the preceding 30 days.
Cloudflare 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | SWEEP | BULLISH | 03/21/25 | $11.75 | $11.6 | $11.6 | $80.00 | $119.4K | 415 | 105 |
| NET | CALL | TRADE | BULLISH | 09/27/24 | $0.52 | $0.51 | $0.52 | $85.00 | $101.2K | 13.8K | 12.9K |
| NET | CALL | SWEEP | BEARISH | 09/27/24 | $0.53 | $0.51 | $0.52 | $85.00 | $96.2K | 13.8K | 10.1K |
| NET | CALL | SWEEP | BEARISH | 09/27/24 | $0.54 | $0.47 | $0.5 | $85.00 | $91.5K | 13.8K | 5.3K |
| NET | CALL | TRADE | BEARISH | 09/27/24 | $0.38 | $0.37 | $0.37 | $85.00 | $73.9K | 13.8K | 10 |
About Cloudflare
Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy, and execute code without maintaining servers.
Following our analysis of the options activities associated with Cloudflare, we pivot to a closer look at the company's own performance.
Where Is Cloudflare Standing Right Now?
- With a volume of 1,590,055, the price of NET is up 1.61% at $78.05.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 50 days.
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 Cloudflare with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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