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 9 options trades for Okta.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $27,675, and 8, calls, for a total amount of $416,730.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $105.0 for Okta over the last 3 months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Okta's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Okta's substantial trades, within a strike price spectrum from $70.0 to $105.0 over the preceding 30 days.
Okta 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | TRADE | NEUTRAL | 01/16/26 | $70.00 | $104.8K | 60 | 30 |
| OKTA | CALL | SWEEP | BEARISH | 03/01/24 | $90.00 | $52.3K | 923 | 888 |
| OKTA | CALL | TRADE | NEUTRAL | 03/01/24 | $85.00 | $50.7K | 359 | 92 |
| OKTA | CALL | SWEEP | BULLISH | 03/15/24 | $100.00 | $49.4K | 1.4K | 1 |
| OKTA | CALL | SWEEP | BEARISH | 03/01/24 | $90.00 | $45.9K | 923 | 789 |
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.
Following our analysis of the options activities associated with Okta, we pivot to a closer look at the company's own performance.
Okta's Current Market Status
- Currently trading with a volume of 1,319,535, the OKTA's price is down by -0.89%, now at $86.14.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 0 days.
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 Okta with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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