Okta Unusual Options Activity For March 25

Investors with a lot of money to spend have taken a bearish stance on Okta OKTA.

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 OKTA, 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 16 uncommon options trades for Okta.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $423,006, and 9 are calls, for a total amount of $371,943.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $92.5 to $120.0 for Okta during the past quarter.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Okta stands at 525.4, with a total volume reaching 3,141.00. 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 $92.5 to $120.0, throughout the last 30 days.

Okta Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

In light of the recent options history for Okta, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Okta Standing Right Now?

• With a trading volume of 1,053,741, the price of OKTA is up by 0.27%, reaching $116.7.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 64 days from now.

Expert Opinions on Okta

In the last month, 5 experts released ratings on this stock with an average target price of $119.6.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from WestPark Capital lowers its rating to Buy with a new price target of $140. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Okta, which currently sits at a price target of $123. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Okta with a target price of $100. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Okta with a target price of $100. * Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Okta with a target price of $135.

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.