What the Options Market Tells Us About Zscaler

Investors with a lot of money to spend have taken a bullish stance on Zscaler ZS.

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 ZS, 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 12 uncommon options trades for Zscaler.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 41%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $552,813, and 10 are calls, for a total amount of $1,025,002.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $250.0 for Zscaler, spanning the last three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Zscaler's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Zscaler's significant trades, within a strike price range of $200.0 to $250.0, over the past month.

Zscaler Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Zscaler

Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.

Present Market Standing of Zscaler

• Currently trading with a volume of 618,827, the ZS's price is down by -1.23%, now at $214.2.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 14 days.

What Analysts Are Saying About Zscaler

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $225.0.

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. * An analyst from Mizuho has decided to maintain their Neutral rating on Zscaler, which currently sits at a price target of $225. * An analyst from Scotiabank persists with their Sector Outperform rating on Zscaler, maintaining a target price of $225.

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 Zscaler options trades with real-time alerts from Benzinga Pro.