Deep-pocketed investors have adopted a bullish approach towards Okta OKTA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OKTA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Okta. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 57% leaning bullish and 42% bearish. Among these notable options, 7 are puts, totaling $780,650, and 7 are calls, amounting to $1,614,798.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $110.0 for Okta, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Okta'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 Okta's whale trades within a strike price range from $70.0 to $110.0 in the last 30 days.
Okta 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | TRADE | NEUTRAL | 01/17/25 | $10.4 | $10.05 | $10.2 | $110.00 | $612.0K | 5.2K | 0 |
| OKTA | PUT | TRADE | NEUTRAL | 01/16/26 | $15.05 | $14.6 | $14.8 | $85.00 | $592.0K | 33 | 400 |
| OKTA | CALL | TRADE | BEARISH | 05/17/24 | $2.24 | $2.16 | $2.15 | $100.00 | $360.5K | 745 | 2.0K |
| OKTA | CALL | SWEEP | BULLISH | 05/17/24 | $3.1 | $3.05 | $3.1 | $97.50 | $263.5K | 163 | 0 |
| OKTA | CALL | SWEEP | BULLISH | 06/21/24 | $6.45 | $6.4 | $6.4 | $100.00 | $231.0K | 1.7K | 2 |
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.
Following our analysis of the options activities associated with Okta, we pivot to a closer look at the company's own performance.
Okta's Current Market Status
- Trading volume stands at 499,170, with OKTA's price down by -0.21%, positioned at $93.6.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 41 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Okta with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
