Financial giants have recently taken a bearish stance on Cloudflare, as indicated by 11 unusual trades in the options market. An analysis of the options history for Cloudflare (NET) revealed that 45% of traders were bullish, while 54% showed bearish tendencies. Out of the trades spotted, 2 were puts valued at $59,194, and 9 were calls valued at $683,613.
Taking into account the volume and open interest on these contracts, it appears that large traders, often referred to as whales, have been targeting a price range from $30.0 to $100.0 for Cloudflare over the last 3 months. This range suggests that there is significant interest in both bullish and bearish positions on the stock.
Analyzing the volume and open interest of calls and puts is a powerful move when trading options. This data can help track the liquidity and interest for Cloudflare’s options at various strike prices. Looking at the volume and open interest trends for calls and puts within the $30.0 to $100.0 strike price range in the last 30 days, it is possible to observe the evolution of interest in these options.
In terms of the biggest options spotted, several notable trades stand out. One call option trade, labeled as a sweep, had a bullish sentiment and a strike price of $85.00, expiring on 06/21/24. The total trade price for this option was $152.6K, with an open interest of 1.8K and a volume of 151. Another call option trade with a bullish sentiment had a strike price of $65.00, expiring on 01/17/25. This trade had a total trade price of $133.0K, an open interest of 740, and a volume of 58. These trades indicate varying sentiments and expectations for the stock’s future price movements.
Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings through its distributed content delivery network (CDN). The company’s edge computing platform, Workers, allows clients to deploy and execute code without the need for servers.
In terms of Cloudflare’s current market position and performance, the trading volume stands at 1,851,022, with the stock price at $80.75, reflecting a -0.09% change. The RSI indicators show that the stock is currently in a neutral position between overbought and oversold. Additionally, an earnings announcement is expected in 2 days.
Professional analysts have also shared their take on Cloudflare. A total of 4 analysts have given their ratings in the last 30 days, with an average price target of $92.25. Keybanc maintains an Overweight rating with a price target of $94, while Truist Securities has a Buy rating and a target price of $90. JMP Securities holds a Market Outperform rating with a target price of $90, and Wells Fargo maintains an Overweight rating with a price target of $95.
It’s important to note that options trading carries higher risks and potential rewards. Traders must educate themselves, adapt their strategies, monitor multiple indicators, and closely follow market movements. Staying informed about the latest Cloudflare options trades can be done through real-time alerts from platforms like Benzinga Pro.
