Palo Alto Networks Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Palo Alto Networks PANW.

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 PANW, 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 20 uncommon options trades for Palo Alto Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $322,757, and 14 are calls, for a total amount of $669,438.

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 $190.0 to $400.0 for Palo Alto Networks over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 979.29 with a total volume of 927.00.

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 $190.0 to $400.0 over the last 30 days.

Palo Alto Networks Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

Palo Alto Networks's Current Market Status

• Trading volume stands at 1,960,406, with PANW's price up by 1.96%, positioned at $292.23.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 77 days.

Professional Analyst Ratings for Palo Alto Networks

5 market experts have recently issued ratings for this stock, with a consensus target price of $285.4.

• In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $300.
• Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $310.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $280.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Palo Alto Networks with a target price of $272.
• In a cautious move, an analyst from B of A Securities downgraded its rating to Neutral, setting a price target of $265.

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.