Deep-pocketed investors have adopted a bearish approach towards Zscaler ZS, 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 ZS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Zscaler. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 26% leaning bullish and 73% bearish. Among these notable options, 4 are puts, totaling $244,187, and 11 are calls, amounting to $506,138.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $160.0 and $210.0 for Zscaler, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Zscaler's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Zscaler's substantial trades, within a strike price spectrum from $160.0 to $210.0 over the preceding 30 days.
Zscaler Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ZS | PUT | SWEEP | BEARISH | 06/21/24 | $175.00 | $118.2K | 418 | 79 |
| ZS | CALL | SWEEP | BEARISH | 06/21/24 | $175.00 | $80.7K | 64 | 37 |
| ZS | CALL | TRADE | BEARISH | 05/17/24 | $180.00 | $78.7K | 85 | 25 |
| ZS | CALL | TRADE | BEARISH | 07/19/24 | $210.00 | $70.0K | 1.1K | 30 |
| ZS | CALL | SWEEP | BULLISH | 11/17/23 | $175.00 | $59.0K | 1.4K | 132 |
About Zscaler
Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.
Following our analysis of the options activities associated with Zscaler, we pivot to a closer look at the company's own performance.
Current Position of Zscaler
- Currently trading with a volume of 794,710, the ZS's price is up by 0.09%, now at $186.34.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 10 days.
What The Experts Say On Zscaler
In the last month, 5 experts released ratings on this stock with an average target price of $210.0.
- An analyst from Rosenblatt persists with their Buy rating on Zscaler, maintaining a target price of $225.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Zscaler with a target price of $205.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Zscaler, targeting a price of $205.
- An analyst from Jefferies upgraded its action to Buy with a price target of $225.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Zscaler with a target price of $190.
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 Zscaler, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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