A whale with a lot of money to spend has taken a noticeably bearish stance on Okta.
Looking at options history for Okta OKTA we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $429,835 and 6, calls, for a total amount of $1,243,350.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $90.0 to $125.0 for Okta over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Okta options trades today is 1719.22 with a total volume of 2,536.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Okta's big money trades within a strike price range of $90.0 to $125.0 over the last 30 days.
Okta Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | TRADE | BULLISH | 01/19/24 | $90.00 | $455.0K | 2.2K | 1.0K |
| OKTA | CALL | SWEEP | BEARISH | 01/19/24 | $90.00 | $360.9K | 2.2K | 12 |
| OKTA | CALL | SWEEP | BEARISH | 01/19/24 | $100.00 | $272.5K | 8.2K | 506 |
| OKTA | PUT | SWEEP | NEUTRAL | 01/19/24 | $105.00 | $103.1K | 189 | 66 |
| OKTA | CALL | SWEEP | BULLISH | 01/19/24 | $90.00 | $88.2K | 2.2K | 500 |
Where Is Okta Standing Right Now?
- With a volume of 1,511,755, the price of OKTA is up 0.77% at $88.17.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 83 days.
What The Experts Say On Okta:
- Canaccord Genuity has decided to maintain their Hold rating on Okta, which currently sits at a price target of $75.
- Wells Fargo has decided to maintain their Overweight rating on Okta, which currently sits at a price target of $85.
- Citigroup has decided to maintain their Neutral rating on Okta, which currently sits at a price target of $90.
- RBC Capital downgraded its action to Outperform with a price target of $112
- Evercore ISI Group upgraded its action to In-Line with a price target of $75
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 Okta, Benzinga Pro gives you real-time options trades alerts.
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