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A Closer Look at Salesforce's Options Market Dynamics

Author: Benzinga Insights | August 09, 2024 10:31am

Financial giants have made a conspicuous bullish move on Salesforce. Our analysis of options history for Salesforce (NYSE:CRM) revealed 14 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $193,380, and 9 were calls, valued at $6,734,530.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $240.0 to $280.0 for Salesforce over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Salesforce stands at 2085.0, with a total volume reaching 3,061.00. 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 $240.0 to $280.0, throughout the last 30 days.

Salesforce Call and Put Volume: 30-Day Overview

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CRM CALL TRADE BULLISH 12/18/26 $62.95 $59.65 $63.0 $250.00 $5.2M 178 840
CRM CALL SWEEP BULLISH 10/18/24 $18.5 $18.2 $18.5 $250.00 $377.4K 999 410
CRM CALL SWEEP BULLISH 10/18/24 $18.15 $17.9 $18.15 $250.00 $350.2K 999 206
CRM CALL SWEEP BEARISH 09/20/24 $16.3 $16.15 $16.15 $250.00 $297.1K 2.7K 208
CRM CALL TRADE BEARISH 08/16/24 $5.4 $4.95 $5.0 $250.00 $250.0K 6.4K 531

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

Where Is Salesforce Standing Right Now?

  • Trading volume stands at 475,918, with CRM's price up by 1.08%, positioned at $251.81.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 19 days.

Expert Opinions on Salesforce

In the last month, 1 experts released ratings on this stock with an average target price of $250.0.

  • An analyst from Piper Sandler has decided to maintain their Neutral rating on Salesforce, which currently sits at a price target of $250.

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

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