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Unpacking the Latest Options Trading Trends in Salesforce

Author: Benzinga Insights | June 10, 2024 11:46am

Deep-pocketed investors have adopted a bearish approach towards Salesforce (NYSE:CRM), 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 CRM usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 29 extraordinary options activities for Salesforce. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 41% leaning bullish and 55% bearish. Among these notable options, 9 are puts, totaling $695,195, and 20 are calls, amounting to $6,433,206.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $280.0 for Salesforce over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Salesforce stands at 2038.16, with a total volume reaching 6,842.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Salesforce, situated within the strike price corridor from $200.0 to $280.0, throughout the last 30 days.

Salesforce 30-Day Option Volume & Interest Snapshot

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CRM CALL TRADE BULLISH 06/18/26 $57.5 $56.4 $57.7 $240.00 $4.9M 4.6K 917
CRM CALL TRADE BEARISH 06/20/25 $33.6 $32.55 $32.6 $250.00 $260.8K 1.5K 81
CRM CALL TRADE BEARISH 06/18/26 $58.2 $56.85 $56.85 $240.00 $250.1K 4.6K 0
CRM PUT SWEEP BULLISH 03/21/25 $13.85 $13.45 $13.45 $220.00 $185.6K 771 207
CRM CALL SWEEP BEARISH 01/17/25 $22.25 $21.95 $22.05 $250.00 $119.0K 2.3K 101

About Salesforce

Salesforce provides enterprise cloud computing solutions. The company offers customer relationship management technology that brings companies and customers together. Its Customer 360 platform helps the group to deliver a single source of truth, connecting customer data across systems, apps, and devices to help companies sell, service, market, and conduct commerce. It also offers Service Cloud for customer support, Marketing Cloud for digital marketing campaigns, Commerce Cloud as an e-commerce engine, the Salesforce Platform, which allows enterprises to build applications, and other solutions, such as MuleSoft for data integration.

Having examined the options trading patterns of Salesforce, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Salesforce

  • With a trading volume of 1,957,145, the price of CRM is down by -0.02%, reaching $241.8.
  • Current RSI values indicate that the stock is may be approaching oversold.
  • Next earnings report is scheduled for 79 days from now.

Expert Opinions on Salesforce

In the last month, 5 experts released ratings on this stock with an average target price of $300.0.

  • An analyst from Piper Sandler persists with their Neutral rating on Salesforce, maintaining a target price of $250.
  • Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Salesforce with a target price of $300.
  • Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $300.
  • Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Salesforce, targeting a price of $300.
  • An analyst from Jefferies persists with their Buy rating on Salesforce, maintaining a target price of $350.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Salesforce options trades with real-time alerts from Benzinga Pro.

Posted In: CRM