Unpacking the Latest Options Trading Trends in Zscaler

Deep-pocketed investors have adopted a bullish approach towards Zscaler ZS, 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 ZS usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Zscaler. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 53% leaning bullish and 38% bearish. Among these notable options, 4 are puts, totaling $404,315, and 9 are calls, amounting to $1,667,039.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $130.0 and $230.0 for Zscaler, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Zscaler's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Zscaler's substantial trades, within a strike price spectrum from $130.0 to $230.0 over the preceding 30 days.

Zscaler Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

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

Current Position of Zscaler

• With a volume of 712,257, the price of ZS is up 0.04% at $198.15.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 45 days.

Professional Analyst Ratings for Zscaler

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $248.33.

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. * An analyst from Jefferies persists with their Buy rating on Zscaler, maintaining a target price of $240. * Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Overweight with a new price target of $255. * In a positive move, an analyst from Cantor Fitzgerald has upgraded their rating to Overweight and adjusted the price target to $250.

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.