Palo Alto Networks Options Trading: A Deep Dive into Market Sentiment

Deep-pocketed investors have adopted a bullish approach towards Palo Alto Networks PANW, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PANW usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 26 extraordinary options activities for Palo Alto Networks. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 53% leaning bullish and 46% bearish. Among these notable options, 8 are puts, totaling $314,966, and 18 are calls, amounting to $981,895.

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 $250.0 to $400.0 for Palo Alto Networks during the past quarter.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Palo Alto Networks stands at 849.5, with a total volume reaching 2,640.00. 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 $250.0 to $400.0, throughout the last 30 days.

Palo Alto Networks 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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 80,000 enterprise customers across the world, including more than three fourths of the Global 2000.

Following our analysis of the options activities associated with Palo Alto Networks, we pivot to a closer look at the company's own performance.

Where Is Palo Alto Networks Standing Right Now?

• Currently trading with a volume of 1,313,380, the PANW's price is down by -0.45%, now at $347.92.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 82 days.

What The Experts Say On Palo Alto Networks

5 market experts have recently issued ratings for this stock, with a consensus target price of $389.0.

• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Palo Alto Networks, targeting a price of $385.
• An analyst from B of A Securities has decided to maintain their Neutral rating on Palo Alto Networks, which currently sits at a price target of $400.
• Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Palo Alto Networks with a target price of $395.
• Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Palo Alto Networks, targeting a price of $400.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Palo Alto Networks with a target price of $365.

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.