Zscaler's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on Zscaler ZS.

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 ZS, 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 17 uncommon options trades for Zscaler.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 23%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $742,453, and 10 are calls, for a total amount of $579,114.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $135.0 to $230.0 for Zscaler over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Zscaler's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Zscaler's whale trades within a strike price range from $135.0 to $230.0 in the last 30 days.

Zscaler Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Zscaler

Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.

Where Is Zscaler Standing Right Now?

• Trading volume stands at 1,193,988, with ZS's price up by 2.65%, positioned at $215.43.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 65 days.

What Analysts Are Saying About Zscaler

5 market experts have recently issued ratings for this stock, with a consensus target price of $234.0.

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. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Zscaler with a target price of $250. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Zscaler, targeting a price of $190. * An analyst from Baird has decided to maintain their Outperform rating on Zscaler, which currently sits at a price target of $250. * Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Zscaler with a target price of $240. * An analyst from Needham downgraded its action to Buy with a price target of $240.

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 Zscaler, Benzinga Pro gives you real-time options trades alerts.