Palo Alto Networks Options Trading: A Deep Dive into Market Sentiment

Author: Benzinga Insights | July 16, 2024 10:31am

Financial giants have made a conspicuous bearish move on Palo Alto Networks. Our analysis of options history for Palo Alto Networks (NASDAQ:PANW) revealed 9 unusual trades.

Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $68,700, and 7 were calls, valued at $207,540.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $240.0 to $350.0 for Palo Alto Networks over the recent three months.

Insights into Volume & Open Interest

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 $350.0 in the last 30 days.

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

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	TRADE	BEARISH	01/17/25	$18.45	$17.95	$18.45	$310.00	$36.9K	415	0
PANW	CALL	TRADE	BEARISH	08/23/24	$38.9	$35.7	$35.7	$310.00	$35.7K	12	10
PANW	CALL	TRADE	BULLISH	08/23/24	$34.5	$33.15	$34.5	$310.00	$34.5K	12	0
PANW	CALL	TRADE	BEARISH	01/17/25	$108.35	$108.25	$108.25	$240.00	$32.4K	423	0
PANW	PUT	TRADE	BEARISH	09/20/24	$15.9	$15.55	$15.9	$330.00	$31.8K	3.3K	5

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?

• With a volume of 265,065, the price of PANW is down -0.97% at $337.61.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 31 days.

Professional Analyst Ratings for Palo Alto Networks

3 market experts have recently issued ratings for this stock, with a consensus target price of $363.3333333333333.

• An analyst from Baird persists with their Outperform rating on Palo Alto Networks, maintaining a target price of $360.
• Reflecting concerns, an analyst from DA Davidson lowers its rating to Buy with a new price target of $380.
• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $350.

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