Deep-pocketed investors have adopted a bullish 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 18 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 61% leaning bullish and 38% bearish. Among these notable options, 4 are puts, totaling $186,729, and 14 are calls, amounting to $1,045,823.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $390.0 for Palo Alto Networks over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Palo Alto Networks stands at 482.59, with a total volume reaching 1,157.00. 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 $150.0 to $390.0, throughout the last 30 days.
Palo Alto Networks Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PANW | CALL | SWEEP | BULLISH | 04/19/24 | $360.00 | $288.1K | 991 | 100 |
| PANW | CALL | SWEEP | NEUTRAL | 04/19/24 | $380.00 | $208.5K | 861 | 270 |
| PANW | CALL | TRADE | BULLISH | 03/15/24 | $330.00 | $89.6K | 1.8K | 20 |
| PANW | PUT | TRADE | BULLISH | 04/19/24 | $320.00 | $86.5K | 543 | 112 |
| PANW | CALL | TRADE | BEARISH | 11/15/24 | $360.00 | $58.9K | 133 | 0 |
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.
In light of the recent options history for Palo Alto Networks, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Palo Alto Networks Standing Right Now?
- With a volume of 915,789, the price of PANW is down -3.52% at $358.88.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 7 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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