Looking At Palo Alto Networks's Recent Unusual Options Activity

Author: Benzinga Insights | August 12, 2024 10:01am

Financial giants have made a conspicuous bullish move on Palo Alto Networks. Our analysis of options history for Palo Alto Networks (NASDAQ:PANW) revealed 10 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $257,945, and 5 were calls, valued at $261,659.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $650.0 for Palo Alto Networks over the recent three months.

Insights into 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 $200.0 to $650.0, over the past month.

Palo Alto Networks Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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

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.

Current Position of Palo Alto Networks

• With a trading volume of 224,617, the price of PANW is down by -1.61%, reaching $326.13.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 7 days from now.

What The Experts Say On Palo Alto Networks

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $353.75.

• An analyst from Redburn Atlantic downgraded its action to Neutral with a price target of $325.
• An analyst from Stifel has decided to maintain their Buy rating on Palo Alto Networks, which currently sits at a price target of $360.
• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Palo Alto Networks, targeting a price of $380.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Palo Alto Networks, targeting a price of $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