Notable Options Activity for Palo Alto Networks
Financial giants have recently made intriguing moves in the options market concerning Palo Alto Networks. A deep dive into the options history of Palo Alto Networks (NASDAQ:PANW) uncovered 10 trades that deviate from the norm.
An analysis reveals that 50% of these trades exhibited bullish sentiments, while a significant 40% leaned towards a bearish outlook. The breakdown shows 5 put trades valued at $257,945 and an equal number of call trades with a value of $261,659.
Exploring Price Projections
The trading trend indicates that major investors are eyeing a price range between $200.0 and $650.0 for Palo Alto Networks over the past quarter.
Insights into Volume and Open Interest
Understanding the volume and open interest offers vital data for stock evaluation. These metrics serve as significant indicators of the liquidity and traction of Palo Alto Networks’s options within specific strike prices ranging from $200.0 to $650.0, over the preceding month.
Snapshot of Palo Alto Networks’ Options Activity in the Last 30 Days
Major Options Transactions
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PANW | CALL | SWEEP | BEARISH | 08/23/24 | $16.2 | $13.75 | $13.7 | $335.00 | $109.6K | 351 | 80 |
| PANW | PUT | TRADE | BULLISH | 01/16/26 | $328.0 | $319.05 | $319.15 | $650.00 | $95.7K | 0 | 5 |
| PANW | PUT | TRADE | BULLISH | 01/16/26 | $324.95 | $316.0 | $316.0 | $650.00 | $63.2K | 0 | 2 |
| PANW | CALL | SWEEP | BULLISH | 08/16/24 | $0.6 | $0.6 | $0.6 | $350.00 | $60.0K | 2.5K | 1.0K |
| PANW | PUT | TRADE | NEUTRAL | 01/16/26 | $37.35 | $20.75 | $29.0 | $280.00 | $43.5K | 159 | 0 |
A Glimpse into Palo Alto Networks
Palo Alto Networks is a cybersecurity vendor known for its platform-based security solutions encompassing network security, cloud security, and security operations. With a robust customer base of over 85,000 worldwide, including a significant portion of the Global 2000, this California-based firm has cemented its presence in the cybersecurity realm.
After dissecting the options activity revolving around Palo Alto Networks, let’s delve into the current standing of the company.
Present Situation of Palo Alto Networks
- Trading volume for PANW stands at 224,617 shares, experiencing a slight dip of -1.61%, landing at $326.13.
- Current Relative Strength Index (RSI) values indicate a neutral stance, positioned between overbought and oversold territories.
- The next earnings report is slated for 7 days from today.
Expert Opinions on Palo Alto Networks
Throughout the past month, four industry analysts have shared their perspectives on Palo Alto Networks, forecasting an average target price of $353.75.
- An analyst at Redburn Atlantic has downgraded the stock to Neutral, setting a price target at $325.
- Stifel’s analyst has reiterated a Buy rating for Palo Alto Networks, maintaining a price target of $360.
- Keybanc’s analyst continues to advocate for an Overweight rating on Palo Alto Networks, targeting a price of $380.
- Barclays’ analyst also supports an Overweight rating for Palo Alto Networks, with a price target of $350.
Options trading presents heightened risks but also the potential for increased returns. Seasoned traders manage these risks through continuous learning, strategic adjustments, leveraging various indicators, and remaining attuned to market fluctuations. Stay updated on the latest options transactions for Palo Alto Networks with Benzinga Pro for real-time insights.