Deep-pocketed investors have adopted a bearish 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 10 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 40% leaning bullish and 60% bearish. Among these notable options, 5 are puts, totaling $307,257, and 5 are calls, amounting to $157,011.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $240.0 to $310.0 for Palo Alto Networks during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 1504.83 with a total volume of 1,320.00.
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 $240.0 to $310.0 over the last 30 days.
Palo Alto Networks Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PANW | PUT | SWEEP | BEARISH | 12/29/23 | $310.00 | $150.8K | 251 | 328 |
| PANW | PUT | SWEEP | BULLISH | 12/29/23 | $310.00 | $63.0K | 251 | 61 |
| PANW | CALL | TRADE | BULLISH | 03/15/24 | $270.00 | $39.0K | 830 | 2 |
| PANW | PUT | TRADE | BEARISH | 12/29/23 | $310.00 | $34.8K | 251 | 519 |
| PANW | CALL | SWEEP | BEARISH | 03/15/24 | $240.00 | $32.6K | 388 | 0 |
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 168,787, the price of PANW is down by -0.27%, reaching $300.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 55 days from now.
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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