Palo Alto Networks Options Trading: A Deep Dive into Market Sentiment

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 11 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 27% leaning bullish and 72% bearish. Among these notable options, 2 are puts, totaling $80,300, and 9 are calls, amounting to $528,206.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $250.0 and $400.0 for Palo Alto Networks, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Palo Alto Networks stands at 652.2, with a total volume reaching 860.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palo Alto Networks, situated within the strike price corridor from $250.0 to $400.0, throughout the last 30 days.

Palo Alto Networks Option Volume And Open Interest Over 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.

After a thorough review of the options trading surrounding Palo Alto Networks, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Palo Alto Networks

• With a volume of 148,123, the price of PANW is up 2.68% at $346.8.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 29 days.

Professional Analyst Ratings for Palo Alto Networks

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $333.75.

• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $280.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Palo Alto Networks with a target price of $335.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Palo Alto Networks with a target price of $330.
• An analyst from Keybanc has decided to maintain their Overweight rating on Palo Alto Networks, which currently sits at a price target of $390.

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 Palo Alto Networks options trades with real-time alerts from Benzinga Pro.