Decoding Palo Alto Networks's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Palo Alto Networks PANW.

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 PANW, 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 20 uncommon options trades for Palo Alto Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 45%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $132,029, and 16 are calls, for a total amount of $592,745.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $390.0 for Palo Alto Networks during the past quarter.

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 Palo Alto Networks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Palo Alto Networks's substantial trades, within a strike price spectrum from $300.0 to $390.0 over the preceding 30 days.

Palo Alto Networks Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Palo Alto Networks's Current Market Status

• Currently trading with a volume of 747,203, the PANW's price is up by 0.39%, now at $332.39.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 6 days.

What Analysts Are Saying About Palo Alto Networks

5 market experts have recently issued ratings for this stock, with a consensus target price of $352.0.

• An analyst from Barclays has decided to maintain their Overweight rating on Palo Alto Networks, which currently sits at a price target of $350.
• An analyst from UBS persists with their Neutral rating on Palo Alto Networks, maintaining a target price of $345.
• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Palo Alto Networks, targeting a price of $380.
• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Palo Alto Networks, targeting a price of $360.
• An analyst from Redburn Atlantic downgraded its action to Neutral with a price target of $325.

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 Palo Alto Networks options trades with real-time alerts from Benzinga Pro.