Someone with a lot of money to spend has taken a bullish stance on Zscaler ZS.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ZS, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for Zscaler.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $343,572, and 6 are calls, for a total amount of $393,580.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $140.0 to $240.0 for Zscaler over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Zscaler stands at 393.6, with a total volume reaching 833.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Zscaler, situated within the strike price corridor from $140.0 to $240.0, throughout the last 30 days.
Zscaler 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 |
|---|---|---|---|---|---|---|---|---|
| ZS | CALL | SWEEP | BULLISH | 11/10/23 | $165.00 | $200.0K | 941 | 0 |
| ZS | PUT | SWEEP | NEUTRAL | 06/21/24 | $230.00 | $121.3K | 73 | 39 |
| ZS | CALL | TRADE | BULLISH | 11/17/23 | $185.00 | $72.6K | 961 | 98 |
| ZS | PUT | TRADE | BEARISH | 11/24/23 | $175.00 | $64.0K | 11 | 1 |
| ZS | PUT | TRADE | BEARISH | 07/19/24 | $240.00 | $56.2K | 1 | 0 |
Present Market Standing of Zscaler
- Currently trading with a volume of 998,536, the ZS's price has up by 0.36%, now at $172.0. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 19 days.
What Analysts Are Saying About Zscaler:
- In a positive move, Jefferies has upgraded their rating to Buy and adjusted the price target to $225.
- JMP Securities downgraded its action to Market Outperform with a price target of $225.
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 Zscaler with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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