Spotlight on Zscaler: Analyzing the Surge in Options Activity - Zscaler (NASDAQ:ZS)

Financial giants have made a conspicuous bullish move on Zscaler. Our analysis of options history for Zscaler (NASDAQ:ZS) revealed 21 unusual trades.

Delving into the details, we found 52% of traders were bullish, while 47% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $304,161, and 14 were calls, valued at $860,829.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $175.0 to $360.0 for Zscaler during the past quarter.

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 $175.0 to $360.0, over the past month.

Zscaler Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
ZS	CALL	SWEEP	BEARISH	03/08/24	$237.50	$231.5K	123	100
ZS	CALL	SWEEP	BULLISH	01/16/26	$360.00	$103.2K	444	50
ZS	PUT	TRADE	BEARISH	01/17/25	$260.00	$82.2K	285	18
ZS	CALL	TRADE	BULLISH	01/17/25	$200.00	$77.7K	701	10
ZS	CALL	TRADE	BULLISH	03/08/24	$245.00	$65.8K	201	85

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.

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

Zscaler's Current Market Status

Currently trading with a volume of 699,674, the ZS's price is up by 1.13%, now at $244.44.
RSI readings suggest the stock is currently may be approaching overbought.
Anticipated earnings release is in 2 days.

What The Experts Say On Zscaler

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $229.8.

An analyst from JP Morgan has decided to maintain their Neutral rating on Zscaler, which currently sits at a price target of $240.
An analyst from Truist Securities has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $260.
An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Zscaler, which currently sits at a price target of $250.
An analyst from Morgan Stanley persists with their Equal-Weight rating on Zscaler, maintaining a target price of $214.
In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $185.

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.

ZSZscaler Inc

$129.30-0.17%

Overview

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