Unpacking the Latest Options Trading Trends in Palo Alto Networks

Whales with a lot of money to spend have taken a noticeably bearish stance on Palo Alto Networks.

Looking at options history for Palo Alto Networks PANW we detected 26 trades.

If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $272,147 and 19, calls, for a total amount of $791,976.

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 $100.0 and $220.0 for Palo Alto Networks, spanning the last three 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 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 $100.0 to $220.0 over the preceding 30 days.

Palo Alto Networks 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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?

• Trading volume stands at 2,053,945, with PANW's price down by -0.51%, positioned at $182.32.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 43 days.

Professional Analyst Ratings for Palo Alto Networks

In the last month, 4 experts released ratings on this stock with an average target price of $220.75.

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 Buy rating for Palo Alto Networks, targeting a price of $240. * An analyst from Barclays persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $213. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Palo Alto Networks, targeting a price of $200. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Palo Alto Networks, targeting a price of $230.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Palo Alto Networks, Benzinga Pro gives you real-time options trades alerts.