Investors with a lot of money to spend have taken a bearish stance on Okta OKTA.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with OKTA, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 19 options trades for Okta.
This isn't normal.
The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $83,600, and 18, calls, for a total amount of $1,544,653.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $125.0 for Okta over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Okta options trades today is 438.25 with a total volume of 14,677.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Okta's big money trades within a strike price range of $75.0 to $125.0 over the last 30 days.
Okta Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | SWEEP | BULLISH | 03/15/24 | $90.00 | $611.7K | 1.6K | 1.0K |
| OKTA | CALL | SWEEP | BULLISH | 03/15/24 | $90.00 | $221.1K | 1.6K | 1.4K |
| OKTA | CALL | TRADE | BULLISH | 08/16/24 | $75.00 | $101.5K | 76 | 50 |
| OKTA | PUT | SWEEP | BEARISH | 06/21/24 | $75.00 | $83.6K | 91 | 0 |
| OKTA | CALL | SWEEP | BULLISH | 03/01/24 | $96.00 | $63.9K | 159 | 408 |
About Okta
Okta is a cloud-native security company that focuses on identity and access management. The San Francisco-based firm went public in 2017 and focuses on two key client stakeholder groups: workforces and customers. Okta's workforce offerings enable a company's employees to securely access its cloud-based and on-premises resources. The firm's customer offerings allow its clients' customers to securely access the client's applications.
After a thorough review of the options trading surrounding Okta, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Okta
- Trading volume stands at 993,228, with OKTA's price up by 1.56%, positioned at $86.0.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 19 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Okta, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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