Benzinga | Dec 9, 2021 09:55PM EST

Cloudflare Whale Trades Spotted

A whale with a lot of money to spend has taken a noticeably bearish stance on Cloudflare.

Looking at options history for Cloudflare (NYSE:NET) we detected 16 strange trades.

If we consider the specifics of each trade, it is accurate to state that 18.75% of the investors opened trades with bullish expectations and 81.25% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $148,920.00 and 14, calls, for a total amount of $1,190,391.00.

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 $150.0 to $180.0 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 670.5 with a total volume of 4,458.00.

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 $150.0 to $180.0 over the last 30 days.

Cloudflare Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestNET CALL SWEEP NEUTRAL 12/10/ $155.00 $208.2K 293 172 21NET CALL TRADE NEUTRAL 01/21/ $165.00 $162.0K 620 105 22NET CALL TRADE BEARISH 06/17/ $180.00 $126.3K 2.3K 535 22NET CALL TRADE NEUTRAL 01/21/ $175.00 $114.0K 612 104 22NET CALL TRADE BEARISH 06/17/ $180.00 $112.8K 2.3K 475 22

Where Is Cloudflare Standing Right Now?

* With a volume of 2,874,904.00, the price of NET is down -4.92% at $152.54.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 63 days.

What The Experts Say On Cloudflare:

* Credit Suisse downgraded its action to Neutral with a price target of $205.0

* DZ Bank downgraded its action to Buy with a price target of $200.0

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.