Smart Money Is Betting Big In CRM Options

Author: Benzinga Insights | April 18, 2024 11:17am

Financial giants have made a conspicuous bullish move on Salesforce. Our analysis of options history for Salesforce (NYSE:CRM) revealed 11 unusual trades.

Delving into the details, we found 54% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $113,630, and 7 were calls, valued at $446,526.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $440.0 for Salesforce, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Salesforce options trades today is 503.82 with a total volume of 673.00.

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 $150.0 to $440.0 over the last 30 days.

Salesforce Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
CRM	CALL	SWEEP	BEARISH	03/21/25	$19.0	$18.65	$18.65	$330.00	$132.4K	53	0
CRM	CALL	TRADE	BULLISH	01/16/26	$139.3	$138.3	$139.3	$150.00	$69.6K	30	0
CRM	CALL	TRADE	NEUTRAL	01/16/26	$59.7	$59.3	$59.5	$270.00	$59.5K	133	0
CRM	CALL	SWEEP	BULLISH	04/19/24	$2.94	$2.8	$2.88	$272.50	$57.7K	255	207
CRM	CALL	SWEEP	BEARISH	03/21/25	$3.35	$3.25	$3.25	$440.00	$54.9K	156	0

About Salesforce

Salesforce Inc 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.

Salesforce's Current Market Status

• Currently trading with a volume of 1,068,422, the CRM's price is down by -0.88%, now at $273.88.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 41 days.

What Analysts Are Saying About Salesforce

5 market experts have recently issued ratings for this stock, with a consensus target price of $339.0.

• Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Salesforce with a target price of $300.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $350.
• An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $350.
• An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $345.
• An analyst from Stifel 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