Zscaler Unusual Options Activity For November 27

Investors with a lot of money to spend have taken a bearish stance on Zscaler ZS.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 56 uncommon options trades for Zscaler.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.

Out of all of the special options we uncovered, 27 are puts, for a total amount of $1,968,215, and 29 are calls, for a total amount of $2,117,666.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $280.0 for Zscaler, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Zscaler's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Zscaler's substantial trades, within a strike price spectrum from $100.0 to $280.0 over the preceding 30 days.

Zscaler 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Zscaler

Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.

Following our analysis of the options activities associated with Zscaler, we pivot to a closer look at the company's own performance.

Zscaler's Current Market Status

• Currently trading with a volume of 2,888,731, the ZS's price is down by -0.39%, now at $192.33.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 0 days.

What Analysts Are Saying About Zscaler

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $199.0.

• An analyst from Stifel persists with their Buy rating on Zscaler, maintaining a target price of $205.
• Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Zscaler, targeting a price of $190.
• An analyst from Truist Securities has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $205.
• An analyst from Rosenblatt has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $225.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Zscaler, targeting a price of $170.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Zscaler options trades with real-time alerts from Benzinga Pro.