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Whales with a lot of money to spend have taken a noticeably bullish stance on Okta.
Looking at options history for Okta (NASDAQ:OKTA) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $299,716 and 6, calls, for a total amount of $195,777.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $100.0 for Okta over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Okta stands at 307.33, with a total volume reaching 1,520.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Okta, situated within the strike price corridor from $80.0 to $100.0, throughout the last 30 days.
Okta Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OKTA | PUT | TRADE | BULLISH | 07/19/24 | $10.65 | $10.45 | $10.5 | $97.50 | $210.0K | 160 | 200 |
| OKTA | CALL | SWEEP | BULLISH | 06/21/24 | $6.2 | $6.05 | $6.2 | $97.50 | $53.9K | 73 | 458 |
| OKTA | PUT | SWEEP | BEARISH | 06/21/24 | $6.15 | $6.0 | $6.15 | $90.00 | $53.4K | 1.1K | 452 |
| OKTA | PUT | SWEEP | BULLISH | 08/16/24 | $3.65 | $3.55 | $3.55 | $80.00 | $36.2K | 149 | 1 |
| OKTA | CALL | TRADE | BULLISH | 07/19/24 | $5.95 | $5.8 | $5.91 | $100.00 | $29.5K | 152 | 53 |
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.
Where Is Okta Standing Right Now?
- Currently trading with a volume of 553,614, the OKTA's price is down by -0.47%, now at $92.5.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 33 days.
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 Okta, Benzinga Pro gives you real-time options trades alerts.
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