Investors with a lot of money to spend have taken a bullish stance on Cloudflare (NYSE: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 8 options trades for Cloudflare.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $46,400, and 7, calls, for a total amount of $218,848.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $82.5 to $100.0 for Cloudflare during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Cloudflare stands at 635.5, with a total volume reaching 1,472.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cloudflare, situated within the strike price corridor from $82.5 to $100.0, throughout the last 30 days.
Cloudflare Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | SWEEP | BEARISH | 11/01/24 | $2.49 | $2.06 | $2.32 | $86.00 | $46.3K | 3 | 100 |
| NET | CALL | TRADE | BULLISH | 10/11/24 | $4.45 | $3.75 | $4.35 | $85.00 | $43.4K | 1.2K | 355 |
| NET | CALL | SWEEP | BULLISH | 10/11/24 | $3.4 | $2.76 | $3.4 | $85.00 | $34.6K | 1.2K | 150 |
| NET | CALL | TRADE | BULLISH | 01/17/25 | $10.7 | $10.05 | $10.7 | $82.50 | $32.1K | 833 | 30 |
| NET | CALL | TRADE | BULLISH | 12/20/24 | $3.6 | $3.45 | $3.6 | $100.00 | $29.8K | 1.5K | 106 |
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.
Present Market Standing of Cloudflare
- With a volume of 50,090, the price of NET is down -0.19% at $84.79.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 28 days.
Professional Analyst Ratings for Cloudflare
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $65.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.* An analyst from Exane BNP Paribas downgraded its action to Underperform with a price target of $65.
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 Cloudflare options trades with real-time alerts from Benzinga Pro.
