27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Someone with a lot of money to spend has taken a bullish stance on Palo Alto Networks (NASDAQ:PANW).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with PANW, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Palo Alto Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $82,295, and 10, calls, for a total amount of $1,367,038..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $133.33 to $270.0 for Palo Alto Networks over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 779.56 with a total volume of 611.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Palo Alto Networks's big money trades within a strike price range of $133.33 to $270.0 over the last 30 days.
Palo Alto Networks Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PANW | CALL | TRADE | NEUTRAL | 01/19/24 | $260.00 | $654.0K | 1.5K | 302 |
| PANW | CALL | SWEEP | BEARISH | 01/19/24 | $133.33 | $322.6K | 295 | 0 |
| PANW | PUT | SWEEP | BULLISH | 09/15/23 | $270.00 | $82.2K | 61 | 35 |
| PANW | CALL | SWEEP | BULLISH | 12/15/23 | $250.00 | $81.5K | 324 | 59 |
| PANW | CALL | TRADE | BULLISH | 08/04/23 | $240.00 | $67.5K | 1.0K | 61 |
Where Is Palo Alto Networks Standing Right Now?
- With a volume of 1,626,941, the price of PANW is up 0.28% at $249.14.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 21 days.
What The Experts Say On Palo Alto Networks:
- Goldman Sachs has decided to maintain their Buy rating on Palo Alto Networks, which currently sits at a price target of $254.
- RBC Capital has decided to maintain their Outperform rating on Palo Alto Networks, which currently sits at a price target of $277.
- JMP Securities has decided to maintain their Outperform rating on Palo Alto Networks, which currently sits at a price target of $300.
- Keybanc has decided to maintain their Overweight rating on Palo Alto Networks, which currently sits at a price target of $285.
- Northland Capital Markets has decided to maintain their Outperform rating on Palo Alto Networks, which currently sits at a price target of $305.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Palo Alto Networks, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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