This Is What Whales Are Betting On Palo Alto Networks

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High-rolling investors have positioned themselves bullish on Palo Alto Networks PANW, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in PANW often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for Palo Alto Networks. This is not a typical pattern.

The sentiment among these major traders is split, with 75% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $35,000, and 7 calls, totaling $265,740.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $280.0 to $330.0 for Palo Alto Networks over the last 3 months.

Insights into 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 Palo Alto Networks's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Palo Alto Networks's significant trades, within a strike price range of $280.0 to $330.0, over the past month.

Palo Alto Networks Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
PANW CALL SWEEP BULLISH 05/24/24 $2.0 $1.76 $2.0 $315.00 $55.2K 3.1K 1.3K
PANW CALL SWEEP BEARISH 05/31/24 $4.35 $4.25 $4.25 $320.00 $42.5K 1.5K 400
PANW CALL TRADE BULLISH 06/21/24 $5.3 $5.15 $5.3 $330.00 $42.4K 2.7K 203
PANW PUT TRADE BULLISH 01/17/25 $18.2 $17.5 $17.5 $280.00 $35.0K 3.3K 0
PANW CALL SWEEP BULLISH 06/21/24 $8.75 $8.0 $8.5 $320.00 $33.9K 4.1K 3

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.

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

Palo Alto Networks's Current Market Status

  • With a trading volume of 464,746, the price of PANW is up by 1.54%, reaching $316.25.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 84 days from now.

Professional Analyst Ratings for Palo Alto Networks

In the last month, 5 experts released ratings on this stock with an average target price of $359.6.

  • An analyst from Wedbush downgraded its action to Outperform with a price target of $375.
  • Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Palo Alto Networks, targeting a price of $334.
  • Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Palo Alto Networks with a target price of $345.
  • Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Palo Alto Networks with a target price of $360.
  • Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Palo Alto Networks with a target price of $384.

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 Palo Alto Networks with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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