Investors with a lot of money to spend have taken a bearish stance on Zscaler (NASDAQ:ZS).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ZS, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Zscaler.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 81%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $352,274, and 4 are calls, for a total amount of $406,006.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $180.0 to $250.0 for Zscaler during the past quarter.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Zscaler's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Zscaler's significant trades, within a strike price range of $180.0 to $250.0, over the past month.
Zscaler 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ZS | CALL | TRADE | BEARISH | 01/17/25 | $10.25 | $10.05 | $10.05 | $250.00 | $249.2K | 2.2K | 4 |
| ZS | PUT | SWEEP | BEARISH | 01/17/25 | $37.35 | $37.0 | $37.35 | $200.00 | $112.0K | 989 | 38 |
| ZS | CALL | SWEEP | BULLISH | 01/16/26 | $50.15 | $48.1 | $49.55 | $180.00 | $99.0K | 94 | 0 |
| ZS | PUT | TRADE | BEARISH | 08/16/24 | $61.55 | $61.55 | $61.55 | $240.00 | $73.8K | 57 | 0 |
| ZS | PUT | TRADE | BULLISH | 06/21/24 | $14.25 | $14.2 | $14.2 | $180.00 | $44.0K | 619 | 22 |
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.
Having examined the options trading patterns of Zscaler, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Zscaler's Current Market Status
- With a trading volume of 855,961, the price of ZS is up by 0.73%, reaching $178.34.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 31 days from now.
Expert Opinions on Zscaler
3 market experts have recently issued ratings for this stock, with a consensus target price of $236.66666666666666.
- An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $260.
- In a positive move, an analyst from Keybanc has upgraded their rating to Overweight and adjusted the price target to $220.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $230.
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 Zscaler with Benzinga Pro for real-time alerts.