Deep-pocketed investors have adopted a bullish 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 24 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 45% leaning bullish and 41% bearish. Among these notable options, 6 are puts, totaling $570,867, and 18 are calls, amounting to $1,062,561.
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 $160.0 to $410.0 for Palo Alto Networks during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 374.06 with a total volume of 543.00.
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 $160.0 to $410.0 over the last 30 days.
Palo Alto Networks Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PANW | PUT | TRADE | BULLISH | 08/16/24 | $6.1 | $5.8 | $5.8 | $290.00 | $187.9K | 979 | 165 |
| PANW | PUT | SWEEP | BEARISH | 07/05/24 | $2.61 | $2.12 | $2.35 | $300.00 | $178.6K | 42 | 1 |
| PANW | CALL | SWEEP | BULLISH | 06/20/25 | $20.8 | $20.3 | $20.8 | $410.00 | $116.4K | 353 | 44 |
| PANW | CALL | TRADE | BEARISH | 06/28/24 | $105.25 | $100.05 | $101.41 | $210.00 | $101.4K | 0 | 0 |
| PANW | PUT | TRADE | BEARISH | 03/21/25 | $17.2 | $16.85 | $17.2 | $270.00 | $94.6K | 407 | 0 |
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.
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.
Palo Alto Networks's Current Market Status
- Trading volume stands at 1,009,622, with PANW's price down by -1.67%, positioned at $311.73.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 57 days.
What Analysts Are Saying About Palo Alto Networks
4 market experts have recently issued ratings for this stock, with a consensus target price of $353.25.
- An analyst from Argus Research has decided to maintain their Buy rating on Palo Alto Networks, which currently sits at a price target of $348.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Palo Alto Networks with a target price of $360.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $360.
- An analyst from Citigroup has decided to maintain their Buy rating on Palo Alto Networks, which currently sits at a price target of $345.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Palo Alto Networks options trades with real-time alerts from Benzinga Pro.