Investors with a lot of money to spend have taken a bearish stance on Palo Alto Networks PANW.
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 PANW, 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 27 uncommon options trades for Palo Alto Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 29% bullish and 70%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $469,215, and 17 are calls, for a total amount of $961,568.
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 $196.67 and $380.0 for Palo Alto Networks, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Palo Alto Networks's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Palo Alto Networks's whale activity within a strike price range from $196.67 to $380.0 in the last 30 days.
Palo Alto Networks 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PANW | CALL | TRADE | BEARISH | 06/21/24 | $22.4 | $22.15 | $22.2 | $280.00 | $166.5K | 4.8K | 121 |
| PANW | CALL | TRADE | BEARISH | 01/17/25 | $111.45 | $102.15 | $102.15 | $196.67 | $102.1K | 108 | 0 |
| PANW | CALL | TRADE | BULLISH | 09/19/25 | $56.7 | $55.2 | $56.7 | $300.00 | $96.3K | 288 | 17 |
| PANW | PUT | TRADE | BULLISH | 08/16/24 | $29.1 | $29.05 | $29.05 | $290.00 | $78.4K | 176 | 27 |
| PANW | PUT | TRADE | BULLISH | 04/05/24 | $2.57 | $2.46 | $2.5 | $277.50 | $75.0K | 476 | 432 |
About Palo Alto Networks
Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations. The California-based firm has more than 85,000 customers across the world, including more than three fourths of the Global 2000.
Following our analysis of the options activities associated with Palo Alto Networks, we pivot to a closer look at the company's own performance.
Current Position of Palo Alto Networks
- Trading volume stands at 1,728,048, with PANW's price down by -1.81%, positioned at $279.0.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 50 days.
Professional Analyst Ratings for Palo Alto Networks
In the last month, 2 experts released ratings on this stock with an average target price of $340.0.
- Consistent in their evaluation, an analyst from Redburn Atlantic keeps a Buy rating on Palo Alto Networks with a target price of $350.
- In a cautious move, an analyst from Stifel downgraded its rating to Buy, setting a price target of $330.
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 Palo Alto Networks options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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