Looking At Check Point Software's Recent Unusual Options Activity

High-rolling investors have positioned themselves bearish on Check Point Software CHKP, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CHKP often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for Check Point Software. This is not a typical pattern.

The sentiment among these major traders is split, with 0% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $43,736, and 7 calls, totaling $671,700.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $250.0 for Check Point Software, spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Check Point Software's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Check Point Software's significant trades, within a strike price range of $135.0 to $250.0, over the past month.

Check Point Software 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Check Point Software

Check Point Software Technologies is a pure-play cybersecurity vendor. The company offers solutions for network, endpoint, cloud, and mobile security in addition to security management. Check Point, a software specialist, sells to enterprises, businesses, and consumers. Around 50% of revenue is generated in Europe, the Middle East, and Africa, 40% from the Americas, and 10% from the Asia-Pacific region. The firm, based in Tel Aviv, Israel, was founded in 1993 and has about 5,000 employees.

Having examined the options trading patterns of Check Point Software, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Check Point Software Standing Right Now?

• Currently trading with a volume of 1,838,673, the CHKP's price is down by -12.53%, now at $181.9.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 0 days.

Expert Opinions on Check Point Software

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $221.6.

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 JP Morgan continues to hold a Neutral rating for Check Point Software, targeting a price of $210. * Maintaining their stance, an analyst from Baird continues to hold a Neutral rating for Check Point Software, targeting a price of $210. * Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Check Point Software with a target price of $238. * An analyst from Truist Securities has decided to maintain their Buy rating on Check Point Software, which currently sits at a price target of $220. * An analyst from Wedbush persists with their Outperform rating on Check Point Software, maintaining a target price of $230.

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 Check Point Software options trades with real-time alerts from Benzinga Pro.