Palo Alto Networks Unusual Options Activity For May 29

Author: Benzinga Insights | May 29, 2024 10:01am

Financial giants have made a conspicuous bearish move on Palo Alto Networks. Our analysis of options history for Palo Alto Networks (NASDAQ:PANW) revealed 12 unusual trades.

Delving into the details, we found 16% of traders were bullish, while 83% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $650,133, and 5 were calls, valued at $197,030.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $240.0 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 $240.0 to $400.0 in the last 30 days.

Palo Alto Networks Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
PANW	PUT	SWEEP	BEARISH	11/15/24	$8.15	$7.4	$8.15	$250.00	$171.1K	411	600
PANW	PUT	SWEEP	BEARISH	11/15/24	$9.5	$7.35	$8.15	$250.00	$147.6K	411	600
PANW	PUT	SWEEP	BEARISH	11/15/24	$8.15	$8.15	$8.15	$250.00	$97.8K	411	600
PANW	PUT	SWEEP	BEARISH	05/31/24	$4.6	$4.4	$4.4	$307.50	$91.6K	442	212
PANW	CALL	SWEEP	BULLISH	01/16/26	$101.0	$96.0	$99.65	$250.00	$59.7K	178	6

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?

• Currently trading with a volume of 389,368, the PANW's price is down by -0.12%, now at $307.64.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 79 days.

Professional Analyst Ratings for Palo Alto Networks

5 market experts have recently issued ratings for this stock, with a consensus target price of $365.8.

• An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $380.
• An analyst from Keybanc persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $384.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $360.
• Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Palo Alto Networks with a target price of $360.
• Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Palo Alto Networks, targeting a price of $345.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Palo Alto Networks with Benzinga Pro for real-time alerts.

Posted In: PANW