High-rolling investors have positioned themselves bullish on Okta OKTA, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in OKTA often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Okta. This is not a typical pattern.
The sentiment among these major traders is split, with 36% bullish and 18% bearish. Among all the options we identified, there was one put, amounting to $25,900, and 10 calls, totaling $388,572.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $87.5 for Okta, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Okta stands at 913.2, with a total volume reaching 1,842.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Okta, situated within the strike price corridor from $70.0 to $87.5, throughout the last 30 days.
Okta Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | SWEEP | BULLISH | 01/17/25 | $5.95 | $5.95 | $5.95 | $80.00 | $74.3K | 851 | 132 |
| OKTA | CALL | SWEEP | BULLISH | 01/10/25 | $3.3 | $3.0 | $3.29 | $84.00 | $69.2K | 18 | 305 |
| OKTA | CALL | TRADE | NEUTRAL | 01/24/25 | $4.25 | $3.85 | $4.02 | $84.00 | $40.1K | 161 | 100 |
| OKTA | CALL | SWEEP | NEUTRAL | 02/21/25 | $16.4 | $14.65 | $15.65 | $70.00 | $39.1K | 354 | 25 |
| OKTA | CALL | SWEEP | BEARISH | 01/17/25 | $2.25 | $2.17 | $2.17 | $87.50 | $33.0K | 1.4K | 360 |
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
- With a volume of 2,134,633, the price of OKTA is up 2.85% at $84.33.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 72 days.
What Analysts Are Saying About Okta
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $100.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Jefferies continues to hold a Hold rating for Okta, targeting a price of $100. * Maintaining their stance, an analyst from DA Davidson continues to hold a Neutral rating for Okta, targeting a price of $90. * In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $101. * An analyst from BMO Capital persists with their Market Perform rating on Okta, maintaining a target price of $105. * An analyst from Goldman Sachs persists with their Buy rating on Okta, maintaining a target price of $107.
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.
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