A whale with a lot of money to spend has taken a noticeably bearish stance on Palo Alto Networks.
Looking at options history for Palo Alto Networks PANW we detected 29 strange trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $1,595,998 and 13, calls, for a total amount of $2,695,334.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $280.0 for Palo Alto Networks over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 1570.95 with a total volume of 11,670.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Palo Alto Networks's big money trades within a strike price range of $200.0 to $280.0 over the last 30 days.
Palo Alto Networks Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PANW | CALL | TRADE | NEUTRAL | 12/15/23 | $250.00 | $1.4M | 5.3K | 330 |
| PANW | PUT | TRADE | BEARISH | 11/24/23 | $210.00 | $384.0K | 2.1K | 2.6K |
| PANW | CALL | TRADE | BEARISH | 03/15/24 | $250.00 | $369.0K | 1.5K | 184 |
| PANW | PUT | TRADE | BEARISH | 11/24/23 | $220.00 | $301.7K | 2.2K | 1.1K |
| PANW | PUT | TRADE | BEARISH | 11/24/23 | $205.00 | $296.0K | 2.3K | 2.2K |
Palo Alto Networks's Current Market Status
- Trading volume stands at 2,113,448, with PANW's price up 2.08%, positioned at $241.94. RSI indicators show the stock to be is currently neutral between overbought and oversold. Earnings announcement expected in 8 days.
What Analysts Are Saying About Palo Alto Networks:
- Reflecting concerns, JMP Securities lowers its rating to Market Outperform with a new price target of $300.
- Keybanc persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $315.
- Reflecting concerns, Needham lowers its rating to Buy with a new price target of $305.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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