Financial giants have made a conspicuous bearish move on Palo Alto Networks. Our analysis of options history for Palo Alto Networks PANW revealed 83 unusual trades.
Delving into the details, we found 30% of traders were bullish, while 69% showed bearish tendencies. Out of all the trades we spotted, 18 were puts, with a value of $1,629,433, and 65 were calls, valued at $5,821,177.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $410.0 for Palo Alto Networks during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Palo Alto Networks stands at 620.3, with a total volume reaching 21,223.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palo Alto Networks, situated within the strike price corridor from $270.0 to $410.0, throughout the last 30 days.
Palo Alto Networks Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PANW | CALL | SWEEP | BEARISH | 01/17/25 | $390.00 | $276.0K | 25 | 709 |
| PANW | CALL | SWEEP | BULLISH | 01/17/25 | $390.00 | $245.7K | 25 | 836 |
| PANW | CALL | TRADE | BULLISH | 01/17/25 | $306.67 | $203.3K | 831 | 132 |
| PANW | CALL | SWEEP | BULLISH | 01/17/25 | $306.67 | $202.7K | 831 | 27 |
| PANW | CALL | TRADE | BULLISH | 01/17/25 | $310.00 | $198.8K | 92 | 194 |
About Palo Alto Networks
Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations. The California-based firm has more than 85,000 customers across the world, including more than three fourths of the Global 2000.
After a thorough review of the options trading surrounding Palo Alto Networks, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Palo Alto Networks
- Trading volume stands at 1,365,441, with PANW's price up by 1.95%, positioned at $336.49.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 33 days.
What Analysts Are Saying About Palo Alto Networks
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $333.75.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $280.
- An analyst from Truist Securities persists with their Buy rating on Palo Alto Networks, maintaining a target price of $330.
- An analyst from Keybanc persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $390.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Palo Alto Networks with a target price of $335.
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 Palo Alto Networks with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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