Decoding Palo Alto Networks's Options Activity: What's the Big Picture?

Whales with a lot of money to spend have taken a noticeably bearish stance on Palo Alto Networks.

Looking at options history for Palo Alto Networks PANW we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $518,332 and 5, calls, for a total amount of $204,195.

Expected Price Movements

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 $320.0 for Palo Alto Networks over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Palo Alto Networks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Palo Alto Networks's substantial trades, within a strike price spectrum from $280.0 to $320.0 over the preceding 30 days.

Palo Alto Networks 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
PANW PUT SWEEP BEARISH 06/07/24 $5.3 $5.25 $5.25 $297.50 $105.8K 732 224
PANW PUT SWEEP BULLISH 06/07/24 $6.1 $5.1 $5.1 $295.00 $101.8K 869 417
PANW PUT SWEEP BULLISH 06/07/24 $4.8 $4.45 $4.45 $295.00 $89.0K 869 205
PANW CALL TRADE BEARISH 06/07/24 $8.1 $7.05 $7.05 $290.00 $88.1K 702 4
PANW PUT SWEEP BEARISH 06/07/24 $4.25 $3.7 $4.25 $295.00 $85.0K 869 405

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.

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

Current Position of Palo Alto Networks

  • With a volume of 870,908, the price of PANW is up 0.32% at $291.03.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 72 days.

Expert Opinions on Palo Alto Networks

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $352.0.

  • In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $360.
  • An analyst from Macquarie has decided to maintain their Neutral rating on Palo Alto Networks, which currently sits at a price target of $285.
  • An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $380.
  • An analyst from Morgan Stanley has revised its rating downward to Overweight, adjusting the price target to $360.
  • An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $375.

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 Palo Alto Networks, Benzinga Pro gives you real-time options trades alerts.

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Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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