Zscaler Unusual Options Activity For March 20

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 8 uncommon options trades for Zscaler.

This isn't normal.

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

Out of all of the special options we uncovered, 4 are puts, for a total amount of $383,519, and 4 are calls, for a total amount of $230,005.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $230.0 for Zscaler over the recent 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 $75.0 to $230.0, over the past month.

Zscaler Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding Zscaler, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Zscaler

• Currently trading with a volume of 740,670, the ZS's price is up by 0.09%, now at $195.41.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 71 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 $247.8.

• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Zscaler, targeting a price of $214.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Zscaler with a target price of $240.
• Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Zscaler with a target price of $265.
• An analyst from Wedbush has decided to maintain their Outperform rating on Zscaler, which currently sits at a price target of $260.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Zscaler with a target price of $260.

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 Zscaler, Benzinga Pro gives you real-time options trades alerts.