Whales with a lot of money to spend have taken a noticeably bearish stance on Palo Alto Networks.
Looking at options history for Palo Alto Networks PANW we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 12% of the investors opened trades with bullish expectations and 87% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $156,359 and 13, calls, for a total amount of $647,938.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $330.0 for Palo Alto Networks over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Palo Alto Networks's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Palo Alto Networks's whale trades within a strike price range from $220.0 to $330.0 in the last 30 days.
Palo Alto Networks Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PANW | CALL | TRADE | NEUTRAL | 12/15/23 | $280.00 | $177.1K | 2.2K | 146 |
| PANW | PUT | SWEEP | NEUTRAL | 01/17/25 | $310.00 | $68.5K | 16 | 35 |
| PANW | PUT | SWEEP | BULLISH | 01/17/25 | $290.00 | $60.9K | 29 | 42 |
| PANW | CALL | TRADE | BEARISH | 12/15/23 | $240.00 | $56.0K | 4.9K | 22 |
| PANW | CALL | TRADE | BEARISH | 12/15/23 | $260.00 | $51.0K | 3.8K | 26 |
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 85,000 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.
Current Position of Palo Alto Networks
- Currently trading with a volume of 2,482,982, the PANW's price is down by -1.05%, now at $292.0.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 81 days.
Professional Analyst Ratings for Palo Alto Networks
5 market experts have recently issued ratings for this stock, with a consensus target price of $285.4.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $305.
- An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $290.
- Reflecting concerns, an analyst from Stifel lowers its rating to Buy with a new price target of $280.
- An analyst from JP Morgan persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $272.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $280.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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