Investors with a lot of money to spend have taken a bullish stance on Okta OKTA.
And retail traders should know.
We noticed this today when the trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Okta.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $196,336, and 4 are calls, for a total amount of $166,875.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $125.0 for Okta over the last 3 months.
Volume & Open Interest Development
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 $80.0 to $125.0 over the preceding 30 days.
Okta Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OKTA | PUT | SWEEP | BULLISH | 11/15/24 | $17.25 | $17.1 | $17.1 | $105.00 | $56.4K | 123 | 45 |
| OKTA | CALL | TRADE | BEARISH | 12/20/24 | $4.8 | $4.55 | $4.65 | $110.00 | $46.5K | 64 | 0 |
| OKTA | CALL | SWEEP | BEARISH | 01/17/25 | $8.6 | $8.55 | $8.55 | $100.00 | $42.7K | 1.3K | 530 |
| OKTA | CALL | TRADE | BULLISH | 08/16/24 | $1.53 | $1.29 | $1.46 | $100.00 | $42.3K | 3.9K | 301 |
| OKTA | PUT | TRADE | BULLISH | 01/17/25 | $35.95 | $35.2 | $35.2 | $125.00 | $38.7K | 203 | 10 |
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.
In light of the recent options history for Okta, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Okta
- Trading volume stands at 1,443,529, with OKTA's price up by 0.02%, positioned at $89.78.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 72 days.
What The Experts Say On Okta
5 market experts have recently issued ratings for this stock, with a consensus target price of $118.4.
- An analyst from Susquehanna persists with their Neutral rating on Okta, maintaining a target price of $110.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Okta, targeting a price of $120.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Okta, which currently sits at a price target of $110.
- In a positive move, an analyst from Evercore ISI Group has upgraded their rating to Outperform and adjusted the price target to $122.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $130.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Okta options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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