Unusual options alert on $NET — $1 million into November $360 calls.
Graphic details: call, $360 strike, expiration November 20, 2026, premium $1.0M, tagged aggressive buy / block / smart money. OTM listed at 14%.
Next earnings estimated October 29 after the close. The card frames a high-conviction “long-dated” bullish bet on Cloudflare sector growth. November 20 is about ten weeks out. That is intermediate, not a LEAP.
Price context: Cloudflare was about $313 on September 10 after a $314.18 close on September 9 — a +10.5% rip off the high $280s. 52-week range roughly $159–$332. Against ~$313, $360 is about 15% out-of-the-money, matching the card.
The strike sits above the August 13 high near $332, so the bid is for a breakout, not a mean-revert. October 29 earnings is inside the option.
$1M is enough to hit unusual-activity scanners on a ~$110B infrastructure-software name and small versus mega-cap prints this week. It does not mean NET goes to $360. High-multiple edge/security names get punished when 10-year yields sit near 4.9% and the heatmap rotates out of growth.
Flow can be a chase of yesterday’s +10%, a roll, or one leg of a spread. Premium dies if $313 was the blow-off after the squeeze. Treat the graphic as illustrative market-flow analysis.
Watch $360 into Nov 20, whether more size prints, and whether NET holds the $300s while semis leak and AAPL acts defensive. Earnings first.
u/Cloudflare u/eastdakota u/CNBC u/eastdakota
[NOT FINANCIAL ADVICE, DYOR!]
Posted Sep 10, 2026, 7:12 PM UTC