This Is What Whales Are Betting On Palo Alto Networks

Author: Benzinga Insights | May 09, 2024 10:34am

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 14 trades.

If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $127,600 and 11, calls, for a total amount of $1,638,509.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $350.0 for Palo Alto Networks during the past quarter.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Palo Alto Networks's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Palo Alto Networks's significant trades, within a strike price range of $270.0 to $350.0, over the past month.

Palo Alto Networks Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
PANW	CALL	SWEEP	BEARISH	09/20/24	$24.7	$24.0	$24.0	$320.00	$480.0K	1.6K	0
PANW	CALL	TRADE	BULLISH	01/17/25	$24.25	$24.05	$24.25	$350.00	$320.1K	1.5K	5
PANW	CALL	SWEEP	BULLISH	01/16/26	$64.45	$62.25	$64.45	$320.00	$277.1K	226	0
PANW	CALL	TRADE	BULLISH	09/20/24	$20.6	$20.1	$20.6	$330.00	$185.4K	1.3K	70
PANW	CALL	TRADE	BEARISH	05/17/24	$9.7	$8.0	$8.0	$295.00	$80.0K	797	1

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.

Where Is Palo Alto Networks Standing Right Now?

• With a volume of 668,056, the price of PANW is down -1.64% at $298.04.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 11 days.

What The Experts Say On Palo Alto Networks

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $345.0.

• An analyst from Keybanc persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $355.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $350.
• Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Palo Alto Networks, targeting a price of $330.

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.

Posted In: PANW