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Investors with a lot of money to spend have taken a bullish stance on Salesforce (NYSE:CRM).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CRM, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for Salesforce.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 28%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $462,851, and 6 are calls, for a total amount of $227,720.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $375.0 for Salesforce during the past quarter.
In today's trading context, the average open interest for options of Salesforce stands at 934.7, with a total volume reaching 785.00. 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 $375.0, throughout the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | PUT | TRADE | NEUTRAL | 06/28/24 | $134.85 | $131.7 | $133.08 | $375.00 | $133.0K | 0 | 0 |
| CRM | PUT | TRADE | NEUTRAL | 07/05/24 | $130.05 | $126.05 | $128.42 | $370.00 | $64.2K | 0 | 0 |
| CRM | PUT | TRADE | NEUTRAL | 07/05/24 | $130.0 | $126.05 | $128.01 | $370.00 | $64.0K | 0 | 5 |
| CRM | PUT | SWEEP | BULLISH | 11/15/24 | $3.25 | $3.15 | $3.15 | $200.00 | $61.7K | 174 | 24 |
| CRM | CALL | SWEEP | BEARISH | 08/16/24 | $3.1 | $3.0 | $3.0 | $260.00 | $48.3K | 3.5K | 82 |
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.
Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company's own performance.
5 market experts have recently issued ratings for this stock, with a consensus target price of $278.0.
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
