What the Options Market Tells Us About Cloudflare
Portfolio Pulse from Benzinga Insights
Investors have shown a bearish stance on Cloudflare (NYSE:NET), with options market activity indicating a split sentiment of 25% bullish and 75% bearish. Benzinga's options scanner revealed 8 unusual trades, with a price target range of $90.0 to $100.0 for Cloudflare over the last 3 months. The company, known for its security and web performance services, is currently trading at $95.11, with an anticipated earnings release in 21 days.
April 04, 2024 | 5:48 pm
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Cloudflare's options market activity shows a bearish sentiment, with a significant portion of trades expecting the stock to move within the $90-$100 range. Currently trading at $95.11, with earnings anticipated in 21 days.
The bearish sentiment in the options market, indicated by the 75% bearish trades, suggests that investors are expecting a potential decrease in Cloudflare's stock price. This sentiment, combined with the upcoming earnings release, could lead to increased volatility and possibly a decrease in stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100