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

Deep-pocketed investors have adopted a bearish 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 14 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 21% leaning bullish and 42% bearish. Among these notable options, 4 are puts, totaling $190,925, and 10 are calls, amounting to $620,062.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $195.0 to $540.0 for Palo Alto Networks over the recent three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Palo Alto Networks's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Palo Alto Networks's significant trades, within a strike price range of $195.0 to $540.0, over the past month.

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

Significant Options Trades Detected:

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.

Present Market Standing of Palo Alto Networks

• Currently trading with a volume of 692,022, the PANW's price is up by 0.09%, now at $350.49.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 77 days.

Expert Opinions on Palo Alto Networks

In the last month, 5 experts released ratings on this stock with an average target price of $387.2.

• An analyst from TD Cowen persists with their Buy rating on Palo Alto Networks, maintaining a target price of $400.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Palo Alto Networks, targeting a price of $350.
• In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $375.
• Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on Palo Alto Networks with a target price of $395.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Palo Alto Networks, targeting a price of $416.

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.