Investors with a lot of money to spend have taken a bullish stance on Okta OKTA.
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 OKTA, 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 8 uncommon options trades for Okta.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $56,385, and 6 are calls, for a total amount of $438,483.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $82.5 for Okta over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Okta's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Okta's whale activity within a strike price range from $70.0 to $82.5 in the last 30 days.
Okta Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | TRADE | BULLISH | 01/17/25 | $6.55 | $6.5 | $6.55 | $80.00 | $131.0K | 920 | 18 |
| OKTA | CALL | SWEEP | BULLISH | 10/18/24 | $3.5 | $3.45 | $3.5 | $75.00 | $86.8K | 2.8K | 519 |
| OKTA | CALL | SWEEP | NEUTRAL | 10/18/24 | $3.25 | $3.1 | $3.15 | $75.00 | $79.0K | 2.8K | 256 |
| OKTA | CALL | SWEEP | BEARISH | 12/20/24 | $10.0 | $9.7 | $9.7 | $72.50 | $77.6K | 383 | 0 |
| OKTA | CALL | SWEEP | BEARISH | 10/11/24 | $1.57 | $1.51 | $1.53 | $77.00 | $35.1K | 3.1K | 935 |
About Okta
Okta is a cloud-native security company that focuses on identity and access management. The San Francisco-based firm went public in 2017 and focuses on two key client stakeholder groups: workforces and customers. Okta's workforce offerings enable a company's employees to securely access its cloud-based and on-premises resources. The firm's customer offerings allow its clients' customers to securely access the client's applications.
After a thorough review of the options trading surrounding Okta, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Okta
- With a volume of 740,956, the price of OKTA is up 0.41% at $78.25.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 47 days.
What The Experts Say On Okta
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $85.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Jefferies continues to hold a Hold rating for Okta, targeting a price of $85.
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 Okta with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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