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

Deep-pocketed investors have adopted a bullish approach towards Palo Alto Networks PANW, 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 PANW usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 59 extraordinary options activities for Palo Alto Networks. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 47% leaning bullish and 44% bearish. Among these notable options, 25 are puts, totaling $1,125,871, and 34 are calls, amounting to $1,804,977.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $260.0 for Palo Alto Networks, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 1519.96 with a total volume of 28,664.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Palo Alto Networks's big money trades within a strike price range of $25.0 to $260.0 over the last 30 days.

Palo Alto Networks 30-Day Option Volume & Interest Snapshot

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.

Following our analysis of the options activities associated with Palo Alto Networks, we pivot to a closer look at the company's own performance.

Where Is Palo Alto Networks Standing Right Now?

• Trading volume stands at 4,034,187, with PANW's price down by -0.35%, positioned at $193.61.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 0 days.

Expert Opinions on Palo Alto Networks

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $223.25.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Rosenblatt persists with their Buy rating on Palo Alto Networks, maintaining a target price of $235. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $223. * An analyst from Roth Capital downgraded its action to Neutral with a price target of $210. * Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Palo Alto Networks, targeting a price of $225.

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.