Palo Alto Networks Unusual Options Activity For March 24

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 25 uncommon options trades for Palo Alto Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 56%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $387,207, and 18 are calls, for a total amount of $852,398.

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What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $135.0 to $220.0 for Palo Alto Networks 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 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 $135.0 to $220.0 over the preceding 30 days.

Palo Alto Networks Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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 80,000 enterprise 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

• Currently trading with a volume of 1,559,883, the PANW's price is up by 2.07%, now at $186.1.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 56 days.

Expert Opinions on Palo Alto Networks

1 market experts have recently issued ratings for this stock, with a consensus target price of $220.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Citigroup persists with their Buy rating on Palo Alto Networks, maintaining a target price of $220.

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.