Investors with a lot of money to spend have taken a bullish stance on Palo Alto Networks (NASDAQ:PANW).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PANW, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 29 uncommon options trades for Palo Alto Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 24%, bearish.
Out of all of the special options we uncovered, 11 are puts, for a total amount of $494,402, and 18 are calls, for a total amount of $1,142,752.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $195.0 to $400.0 for Palo Alto Networks over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Palo Alto Networks's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Palo Alto Networks's whale activity within a strike price range from $195.0 to $400.0 in 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 | CALL | TRADE | NEUTRAL | 05/31/24 | $19.0 | $17.85 | $18.5 | $300.00 | $183.1K | 529 | 140 |
| PANW | CALL | TRADE | BEARISH | 05/31/24 | $17.85 | $17.5 | $17.5 | $300.00 | $178.5K | 529 | 250 |
| PANW | CALL | TRADE | BEARISH | 05/31/24 | $17.15 | $16.8 | $16.8 | $300.00 | $168.0K | 529 | 247 |
| PANW | PUT | SWEEP | BULLISH | 06/20/25 | $23.25 | $21.45 | $21.45 | $250.00 | $130.8K | 1.3K | 129 |
| PANW | CALL | SWEEP | BEARISH | 05/17/24 | $10.4 | $8.75 | $9.05 | $295.00 | $90.5K | 1.5K | 101 |
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 trading volume of 1,242,345, the price of PANW is up by 1.46%, reaching $301.82.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 7 days from now.
What Analysts Are Saying About Palo Alto Networks
In the last month, 3 experts released ratings on this stock with an average target price of $345.0.
- An analyst from Oppenheimer persists with their Outperform rating on Palo Alto Networks, maintaining a target price of $330.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $350.
- An analyst from Keybanc persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $355.
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.