A Closer Look at Palo Alto Networks’s Options Market Dynamics
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 14 trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $341,974 and 6, calls, for a total amount of $654,695.
Expected Price Movements
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 $380.0 for Palo Alto Networks during the past quarter.
Analyzing Volume & Open Interest
In today’s trading context, the average open interest for options of Palo Alto Networks stands at 1328.54, with a total volume reaching 1,224.00. 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 $380.0, throughout the last 30 days.
Palo Alto Networks 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PANW | CALL | TRADE | BEARISH | 03/22/24 | $282.50 | $423.2K | 558 | 531 |
| PANW | CALL | TRADE | BEARISH | 09/20/24 | $380.00 | $96.9K | 1.0K | 0 |
| PANW | PUT | TRADE | NEUTRAL | 03/08/24 | $320.00 | $68.1K | 47 | 17 |
| PANW | PUT | TRADE | BEARISH | 03/15/24 | $330.00 | $52.0K | 2.3K | 18 |
| PANW | CALL | TRADE | BULLISH | 01/17/25 | $200.00 | $49.8K | 2.4K | 47 |
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.
Palo Alto Networks’s Current Market Status
- With a trading volume of 1,293,308, the price of PANW is up by 0.44%, reaching $280.1.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 75 days from now.
What The Experts Say On Palo Alto Networks
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $359.0.
- An analyst from Wedbush has decided to maintain their Outperform rating on Palo Alto Networks, which currently sits at a price target of $375.
- An analyst from Goldman Sachs persists with their Buy rating on Palo Alto Networks, maintaining a target price of $310.
- An analyst from Truist Securities has decided to maintain their Buy rating on Palo Alto Networks, which currently sits at a price target of $350.
- An analyst from Cantor Fitzgerald persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $350.
- An analyst from Stifel has decided to maintain their Buy rating on Palo Alto Networks, which currently sits at a price target of $410.
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.
