This Is What Whales Are Betting On Palo Alto Networks

This Is What Whales Are Betting On Palo Alto Networks

Someone with a lot of money to spend has taken a bearish stance on Palo Alto Networks PANW.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Palo Alto Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 52%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $284,090, and 10 are calls, for a total amount of $422,490.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $450.0 to $610.0 for Palo Alto Networks over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 498.53 with a total volume of 191.00.

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 $450.0 to $610.0 over the last 30 days.

Palo Alto Networks Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PANW CALL TRADE BEARISH 01/20/23 $540.00 $75.0K 566 15
PANW CALL TRADE NEUTRAL 09/16/22 $500.00 $61.7K 937 15
PANW PUT SWEEP NEUTRAL 08/19/22 $500.00 $61.7K 503 41
PANW PUT TRADE BULLISH 09/16/22 $500.00 $54.4K 581 43
PANW PUT TRADE BEARISH 09/16/22 $500.00 $54.3K 581 13

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PANW CALL TRADE BEARISH 01/20/23 $540.00 $75.0K 566 15
PANW CALL TRADE NEUTRAL 09/16/22 $500.00 $61.7K 937 15
PANW PUT SWEEP NEUTRAL 08/19/22 $500.00 $61.7K 503 41
PANW PUT TRADE BULLISH 09/16/22 $500.00 $54.4K 581 43
PANW PUT TRADE BEARISH 09/16/22 $500.00 $54.3K 581 13

Where Is Palo Alto Networks Standing Right Now?

  • With a volume of 865,454, the price of PANW is down -2.18% at $502.39.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 33 days.

What The Experts Say On Palo Alto Networks:

  • BMO Capital has decided to maintain their Outperform rating on Palo Alto Networks, which currently sits at a price target of $650.

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.

Posted In: BZI-UOAOptionsMarkets