Someone with a lot of money to spend has taken a bullish stance on Cloudflare (NYSE:NET).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, 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 10 options trades for Cloudflare.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $389,544, and there was 1 call, for a total amount of $29,700.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $200.0 for Cloudflare over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Cloudflare options trades today is 498.25 with a total volume of 554.00.
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 $85.0 to $200.0 over 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NET | PUT | TRADE | BULLISH | 04/29/22 | $105.00 | $97.0K | 678 | 75 |
| NET | PUT | TRADE | BEARISH | 04/29/22 | $105.00 | $48.1K | 678 | 112 |
| NET | PUT | SWEEP | BULLISH | 08/19/22 | $85.00 | $41.9K | 1.1K | 35 |
| NET | PUT | SWEEP | BULLISH | 08/19/22 | $85.00 | $37.9K | 1.1K | 6 |
| NET | PUT | TRADE | BULLISH | 04/29/22 | $99.00 | $36.5K | 171 | 65 |
Where Is Cloudflare Standing Right Now?
- With a volume of 1,266,853, the price of NET is up 0.25% at $90.97.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 8 days.
Options are a riskier asset compared to just trading the stock, but they have 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 following the markets closely.
If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.
