Financial giants have made a conspicuous bearish move on Cloudflare. Our analysis of options history for Cloudflare (NYSE:NET) revealed 23 unusual trades.
Delving into the details, we found 43% of traders were bullish, while 56% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $166,744, and 20 were calls, valued at $1,112,085.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $30.0 and $105.0 for Cloudflare, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Cloudflare options trades today is 631.94 with a total volume of 4,190.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cloudflare’s big money trades within a strike price range of $30.0 to $105.0 over the last 30 days.
Cloudflare Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | CALL | SWEEP | BULLISH | 12/15/23 | $60.00 | $207.9K | 221 | 101 |
| NET | CALL | SWEEP | NEUTRAL | 01/19/24 | $60.00 | $187.7K | 2.2K | 1 |
| NET | CALL | TRADE | NEUTRAL | 06/21/24 | $75.00 | $114.8K | 530 | 1 |
| NET | PUT | TRADE | NEUTRAL | 06/21/24 | $85.00 | $97.8K | 85 | 96 |
| NET | CALL | TRADE | NEUTRAL | 06/21/24 | $80.00 | $97.6K | 520 | 3 |
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.
After a thorough review of the options trading surrounding Cloudflare, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Cloudflare’s Current Market Status
- With a trading volume of 4,654,481, the price of NET is up by 3.26%, reaching $83.0.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 56 days from now.
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.
