Decoding Salesforce’s Options Activity: What’s the Big Picture? – Salesforce (NYSE:CRM)
Whales with a lot of money to spend have taken a noticeably bearish stance on Salesforce.
Looking at options history for Salesforce CRM we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $470,393 and 7, calls, for a total amount of $297,299.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $210.0 to $310.0 for Salesforce over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Salesforce options trades today is 1490.75 with a total volume of 656.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Salesforce’s big money trades within a strike price range of $210.0 to $310.0 over the last 30 days.
Salesforce Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CRM | PUT | TRADE | BEARISH | 07/19/24 | $12.05 | $11.85 | $12.0 | $240.00 | $160.8K | 2.4K | 148 |
| CRM | PUT | SWEEP | BULLISH | 07/05/24 | $3.05 | $3.0 | $3.0 | $227.50 | $151.7K | 25 | 0 |
| CRM | PUT | SWEEP | BEARISH | 07/05/24 | $29.3 | $27.8 | $29.3 | $260.00 | $67.3K | 8 | 0 |
| CRM | CALL | SWEEP | BEARISH | 08/16/24 | $3.35 | $3.2 | $3.2 | $250.00 | $64.0K | 5.8K | 30 |
| CRM | PUT | SWEEP | BEARISH | 07/19/24 | $60.0 | $57.15 | $59.03 | $290.00 | $59.0K | 91 | 0 |
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.
Following our analysis of the options activities associated with Salesforce, we pivot to a closer look at the company’s own performance.
Current Position of Salesforce
- With a volume of 2,696,672, the price of CRM is down -0.31% at $229.77.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 71 days.
Professional Analyst Ratings for Salesforce
In the last month, 5 experts released ratings on this stock with an average target price of $289.0.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Salesforce, targeting a price of $250.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $350.
- An analyst from Deutsche Bank has decided to maintain their Buy rating on Salesforce, which currently sits at a price target of $300.
- Consistent in their evaluation, an analyst from DA Davidson keeps a Neutral rating on Salesforce with a target price of $230.
- An analyst from Wedbush persists with their Outperform rating on Salesforce, maintaining a target price of $315.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Salesforce with Benzinga Pro for real-time alerts.
