Deep-pocketed investors have adopted a bullish approach towards Cloudflare (NYSE: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 12 extraordinary options activities for Cloudflare. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 33% bearish. Among these notable options, 4 are puts, totaling $200,835, and 8 are calls, amounting to $380,506.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $55.0 and $155.0 for Cloudflare, spanning the last three months.
Analyzing Volume & Open Interest
In today’s trading context, the average open interest for options of Cloudflare stands at 1402.0, with a total volume reaching 2,227.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cloudflare, situated within the strike price corridor from $55.0 to $155.0, throughout the last 30 days.
Cloudflare 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NET | PUT | TRADE | BULLISH | 01/17/25 | $15.9 | $15.8 | $15.8 | $85.00 | $104.2K | 3.8K | 68 |
| NET | CALL | TRADE | BULLISH | 06/21/24 | $21.25 | $20.8 | $21.13 | $55.00 | $69.7K | 495 | 33 |
| NET | CALL | TRADE | BULLISH | 05/17/24 | $20.95 | $20.4 | $20.79 | $55.00 | $68.6K | 82 | 45 |
| NET | CALL | SWEEP | BULLISH | 05/31/24 | $1.16 | $1.09 | $1.15 | $80.00 | $57.5K | 454 | 532 |
| NET | CALL | TRADE | BEARISH | 01/17/25 | $9.5 | $9.45 | $9.45 | $85.00 | $50.0K | 1.3K | 56 |
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.
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