Investors with a lot of money to spend have taken a bullish stance on Okta (NASDAQ:OKTA).

And retail traders should know.

We noticed this today when the positions 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 OKTA, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 20 options trades for Okta.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 45%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $25,650, and 19, calls, for a total amount of $1,396,744.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $105.0 for Okta during the past quarter.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Okta's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Okta's substantial trades, within a strike price spectrum from $70.0 to $105.0 over the preceding 30 days.

Okta 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

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

Okta's Current Market Status

• With a trading volume of 867,949, the price of OKTA is down by -1.58%, reaching $95.45.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 11 days from now.

Expert Opinions on Okta

In the last month, 5 experts released ratings on this stock with an average target price of $115.0.

Turn $1000 into $1270 in just 20 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.