Whales with a lot of money to spend have taken a noticeably bullish stance on Palo Alto Networks.
Looking at options history for Palo Alto Networks (NASDAQ:PANW) we detected 55 trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $906,579 and 43, calls, for a total amount of $1,643,361.
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 $200.0 to $450.0 for Palo Alto Networks during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Palo Alto Networks stands at 897.48, with a total volume reaching 7,007.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palo Alto Networks, situated within the strike price corridor from $200.0 to $450.0, throughout the last 30 days.
Palo Alto Networks 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PANW | PUT | TRADE | BEARISH | 12/20/24 | $84.75 | $82.25 | $84.1 | $400.00 | $420.5K | 55 | 0 |
| PANW | PUT | SWEEP | BULLISH | 09/20/24 | $19.4 | $19.35 | $19.35 | $320.00 | $96.7K | 1.8K | 42 |
| PANW | CALL | TRADE | BULLISH | 09/20/24 | $4.45 | $3.7 | $4.25 | $400.00 | $85.0K | 1.1K | 135 |
| PANW | CALL | SWEEP | BULLISH | 07/19/24 | $8.1 | $7.85 | $8.09 | $330.00 | $75.3K | 2.5K | 235 |
| PANW | PUT | SWEEP | BEARISH | 07/19/24 | $11.35 | $11.05 | $11.35 | $330.00 | $69.2K | 292 | 3 |
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
- Trading volume stands at 1,773,193, with PANW's price up by 1.9%, positioned at $322.7.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 52 days.
Expert Opinions on Palo Alto Networks
In the last month, 4 experts released ratings on this stock with an average target price of $359.5.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Palo Alto Networks, targeting a price of $360.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Palo Alto Networks, targeting a price of $348.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $350.
- Reflecting concerns, an analyst from DA Davidson lowers its rating to Buy with a new price target of $380.
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.