A Closer Look at Palo Alto Networks's Options Market Dynamics

Author: Benzinga Insights | March 25, 2024 12:01pm

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 (NASDAQ:PANW) we detected 21 trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $66,255 and 19, calls, for a total amount of $1,290,185.

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 $320.0 for Palo Alto Networks during the past quarter.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Palo Alto Networks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Palo Alto Networks's substantial trades, within a strike price spectrum from $200.0 to $320.0 over the preceding 30 days.

Palo Alto Networks Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
PANW	CALL	TRADE	BULLISH	06/21/24	$300.00	$173.5K	2.8K	36
PANW	CALL	TRADE	BEARISH	09/19/25	$300.00	$150.9K	239	26
PANW	CALL	TRADE	BULLISH	06/21/24	$280.00	$134.6K	4.7K	93
PANW	CALL	TRADE	BULLISH	01/16/26	$320.00	$114.4K	230	0
PANW	CALL	TRADE	BULLISH	06/21/24	$290.00	$108.0K	1.3K	57

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.

Where Is Palo Alto Networks Standing Right Now?

• Trading volume stands at 940,487, with PANW's price down by -0.41%, positioned at $285.6.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 57 days.

Professional Analyst Ratings for Palo Alto Networks

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $335.0.

• Reflecting concerns, an analyst from Stifel lowers its rating to Buy with a new price target of $330.
• An analyst from Redburn Atlantic persists with their Buy rating on Palo Alto Networks, maintaining a target price of $350.
• Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Palo Alto Networks, targeting a price of $325.

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.

Posted In: PANW