Whales with a lot of money to spend have taken a noticeably bullish stance on Cloudflare.
Taking a glance at the options history for Cloudflare NET, 10 trades have been detected.
Divulging the specifics of each trade, it is fair to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
Among the trades, there are 4 puts, amounting to $244,064, and 6 calls, totaling $342,747.
The Forecasted Price Spectrum
Judging by the trading activity, the significant investors are aiming for a price range spanning from $80.0 to $130.0 for Cloudflare over the past three months.
Insights into Volume & Open Interest
It’s a smart move to study the volume and open interest when dabbling in options trading. This data can assist in tracking the liquidity and interest for Cloudflare’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts for all of Cloudflare’s whale trades within a strike price range from $80.0 to $130.0 in the last 30 days.
Cloudflare Option Activity Analysis: Last 30 Days
Observing the Largest Options Trades
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | CALL | SWEEP | BEARISH | 01/17/25 | $130.00 | $141.5K | 20 | 315 |
| NET | PUT | SWEEP | BULLISH | 07/19/24 | $80.00 | $79.8K | 221 | 179 |
| NET | PUT | SWEEP | BULLISH | 01/17/25 | $90.00 | $73.6K | 507 | 52 |
| NET | PUT | SWEEP | BULLISH | 03/15/24 | $95.00 | $64.8K | 2.4K | 35 |
| NET | CALL | TRADE | NEUTRAL | 03/28/24 | $95.00 | $60.0K | 1.0K | 100 |
About Cloudflare
Cloudflare, a software company based in San Francisco, California, offers security and web performance offerings through a distributed, serverless content delivery network, or CDN. The firm’s edge computing platform, Workers, harnesses this network by providing clients the capability to deploy and execute code without maintaining servers.
Cloudflare’s Current Position
- Trading volume stands at 2,000,262, and NET’s price has dipped by -4.1%, resting at $93.97.
- RSI indicators suggest the stock may be approaching overbought status.
- An earnings announcement is expected in 64 days.
Professional Analyst Ratings for Cloudflare
In the past month, a total of 5 professional analysts have rendered their verdict on this stock, establishing an average price target of $110.4.
- Remaining consistent in their appraisals, an analyst from Susquehanna maintains a Neutral rating on Cloudflare with a target price of $115.
- An analyst from Cantor Fitzgerald downgraded its assessment to Neutral with a price target of $100.
- An analyst from Needham has opted to uphold their Buy rating on Cloudflare, which presently sits at a price target of $135.
- An analyst from DZ Bank has readjusted its rating downward to Hold, revising the price target to $110.
- Staying consistent in their evaluations, an analyst from Morgan Stanley maintains an Equal-Weight rating on Cloudflare with a target price of $92.
Options pose a riskier proposition compared to simply trading the stock, but they carry higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and keeping a close eye on the markets.
