CrowdStrike Holdings Inc’s shares surged 18% to $223.20 on Friday after the cybersecurity firm reported earnings that exceeded analyst estimates, fueling heavy options activity.
The company posted adjusted earnings per share of $0.31, topping the $0.29 forecast, while revenue reached $1.47 billion compared with the $1.44 billion estimate. Shares approached an all-time high of $227.50, extending a one-year gain of 79.1% and trading at a forward price-to-earnings ratio of 151 times.
Options volume climbed to more than 183,000 contracts by 11 a.m. ET, with call volume at 116,978 versus 66,533 puts. Delta hedge volume reached 103% of daily shares traded, signaling strong directional positioning. Among the most active contracts, August 2026 $230 calls saw 3,426 contracts traded with 1,398 in open interest, while September 2026 $240 calls recorded 3,196 contracts traded and 282 in open interest.
Market metrics reflected heightened optimism. Three-month implied volatility fell 3.21 points to 52.51%, while skew between 90- and 110-delta options rose 2.45 points to 2.29. Technical indicators showed CrowdStrike as overbought, with an RSI of 81 and a MACD buy signal, while moving averages remained in a strong uptrend.
Analysts responded by lifting price targets. TD Cowen, Benchmark, Wells Fargo and Citizens raised their targets to a range of $230 to $250, maintaining a consensus rating of Strong Buy.
