Palo Alto Networks Unusual Options Activity For November 29

High-rolling investors have positioned themselves bearish on Palo Alto Networks PANW, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in PANW often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 20 options trades for Palo Alto Networks. This is not a typical pattern.

The sentiment among these major traders is split, with 30% bullish and 70% bearish. Among all the options we identified, there was one put, amounting to $50,327, and 19 calls, totaling $840,697.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $330.0 for Palo Alto Networks, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Palo Alto Networks stands at 805.75, with a total volume reaching 842.00. 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 $150.0 to $330.0, throughout the last 30 days.

Palo Alto Networks Option Volume And Open Interest Over Last 30 Days

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 85,000 customers across the world, including more than three fourths of the Global 2000.

Having examined the options trading patterns of Palo Alto Networks, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Palo Alto Networks Standing Right Now?

• With a trading volume of 1,119,653, the price of PANW is up by 0.13%, reaching $278.2.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 83 days from now.

What The Experts Say On Palo Alto Networks

In the last month, 5 experts released ratings on this stock with an average target price of $285.4.

• An analyst from JP Morgan has decided to maintain their Overweight rating on Palo Alto Networks, which currently sits at a price target of $272.
• Reflecting concerns, an analyst from Stifel lowers its rating to Buy with a new price target of $280.
• Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $290.
• An analyst from Stifel downgraded its action to Buy with a price target of $280.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $305.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Palo Alto Networks with Benzinga Pro for real-time alerts.