Palo Alto Networks Unusual Options Activity

Deep-pocketed investors have adopted a bullish approach towards Palo Alto Networks PANW, 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 PANW usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 35 extraordinary options activities for Palo Alto Networks. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 51% leaning bullish and 37% bearish. Among these notable options, 18 are puts, totaling $743,302, and 17 are calls, amounting to $1,132,690.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $85.0 to $200.0 for Palo Alto Networks over the recent three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Palo Alto Networks stands at 851.33, with a total volume reaching 5,466.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palo Alto Networks, situated within the strike price corridor from $85.0 to $200.0, throughout the last 30 days.

Palo Alto Networks 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Current Position of Palo Alto Networks

• With a volume of 1,396,617, the price of PANW is down -4.97% at $159.36.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 28 days.

What Analysts Are Saying About Palo Alto Networks

In the last month, 5 experts released ratings on this stock with an average target price of $195.2.

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 HSBC has elevated its stance to Hold, setting a new price target at $156. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Palo Alto Networks, which currently sits at a price target of $205. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Equal-Weight, setting a price target of $205. * An analyst from Keybanc has decided to maintain their Overweight rating on Palo Alto Networks, which currently sits at a price target of $205. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Palo Alto Networks, targeting a price of $205.

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.