Deep-pocketed investors have adopted a bearish approach towards Palo Alto Networks (NASDAQ: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 40 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 40% leaning bullish and 47% bearish. Among these notable options, 11 are puts, totaling $1,281,463, and 29 are calls, amounting to $1,436,418.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $220.0 for Palo Alto Networks over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Palo Alto Networks stands at 858.55, with a total volume reaching 3,887.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palo Alto Networks, situated within the strike price corridor from $150.0 to $220.0, throughout the last 30 days.
Palo Alto Networks 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PANW | PUT | SWEEP | BULLISH | 12/17/27 | $49.85 | $49.8 | $49.8 | $220.00 | $179.4K | 152 | 36 |
| PANW | PUT | SWEEP | BULLISH | 09/18/26 | $7.8 | $7.5 | $7.45 | $155.00 | $134.1K | 221 | 180 |
| PANW | PUT | TRADE | BEARISH | 12/17/27 | $49.3 | $46.0 | $49.3 | $220.00 | $123.2K | 152 | 240 |
| PANW | PUT | TRADE | BEARISH | 12/17/27 | $48.9 | $45.95 | $48.9 | $220.00 | $122.2K | 152 | 165 |
| PANW | PUT | TRADE | BEARISH | 12/17/27 | $48.9 | $47.25 | $48.9 | $220.00 | $122.2K | 152 | 65 |
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.
In light of the recent options history for Palo Alto Networks, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Palo Alto Networks Standing Right Now?
- Trading volume stands at 2,043,397, with PANW's price down by -1.11%, positioned at $190.81.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 63 days.
Professional Analyst Ratings for 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 $241.0.
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. * Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Palo Alto Networks with a target price of $250. * An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $225. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Palo Alto Networks, targeting a price of $230. * An analyst from Rosenblatt has decided to maintain their Buy rating on Palo Alto Networks, which currently sits at a price target of $250. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $250.
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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