Palo Alto Networks's Options: A Look at What the Big Money is Thinking

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 23 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 47%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $168,183, and 18 are calls, for a total amount of $752,562.

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 $190.0 to $510.0 for Palo Alto Networks over the last 3 months.

Insights into Volume & Open Interest

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 Palo Alto Networks'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 Palo Alto Networks's whale activity within a strike price range from $190.0 to $510.0 in 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 80,000 enterprise customers across the world, including more than three fourths of the Global 2000.

Current Position of Palo Alto Networks

• With a volume of 965,884, the price of PANW is up 1.14% at $377.48.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 27 days.

Professional Analyst Ratings for Palo Alto Networks

In the last month, 4 experts released ratings on this stock with an average target price of $416.5.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Exane BNP Paribas downgraded its rating to Outperform, setting a price target of $410. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Palo Alto Networks with a target price of $410. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Palo Alto Networks with a target price of $421. * An analyst from Goldman Sachs persists with their Buy rating on Palo Alto Networks, maintaining a target price of $425.

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.