Looking At Cloudflare's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Cloudflare NET, 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 NET usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 16 extraordinary options activities for Cloudflare. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 31% leaning bullish and 56% bearish. Among these notable options, 7 are puts, totaling $878,168, and 9 are calls, amounting to $621,521.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $130.0 for Cloudflare over the last 3 months.

Insights into Volume & Open Interest

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 $75.0 to $130.0 over the preceding 30 days.

Cloudflare Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Cloudflare’s Current Market Status

• Currently trading with a volume of 3,925,467, the NET’s price is down by -4.27%, now at $110.02.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 31 days.

Professional Analyst Ratings for Cloudflare

In the last month, 5 experts released ratings on this stock with an average target price of $151.2.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Cloudflare, targeting a price of $145.
* Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Cloudflare with a target price of $131.
* An analyst from Citizens Capital Markets downgraded its action to Market Outperform with a price target of $180.
* Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Cloudflare, targeting a price of $140.
* In a positive move, an analyst from B of A Securities has upgraded their rating to Buy and adjusted the price target to $160.

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.