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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 41% bullish and 34%, bearish.
Out of all of the special options we uncovered, 11 are puts, for a total amount of $430,145, and 18 are calls, for a total amount of $704,659.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $255.0 for Palo Alto Networks over the last 3 months.
In today's trading context, the average open interest for options of Palo Alto Networks stands at 1667.69, with a total volume reaching 1,518.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palo Alto Networks, situated within the strike price corridor from $115.0 to $255.0, throughout the last 30 days.

| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PANW | CALL | SWEEP | BEARISH | 11/21/25 | $9.5 | $9.05 | $9.45 | $212.50 | $89.7K | 224 | 95 |
| PANW | PUT | SWEEP | NEUTRAL | 11/21/25 | $6.85 | $6.55 | $6.7 | $210.00 | $66.2K | 1.2K | 163 |
| PANW | PUT | TRADE | BEARISH | 03/20/26 | $27.2 | $26.3 | $27.2 | $230.00 | $51.6K | 81 | 23 |
| PANW | CALL | TRADE | BULLISH | 03/20/26 | $23.35 | $21.9 | $23.0 | $210.00 | $48.3K | 682 | 21 |
| PANW | CALL | TRADE | BULLISH | 01/16/26 | $23.2 | $22.0 | $23.0 | $200.00 | $46.0K | 7.5K | 41 |
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 80,000 enterprise customers across the world, including more than three fourths of the Global 2000.
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $243.25.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a positive move, an analyst from BTIG has upgraded their rating to Buy and adjusted the price target to $248. * An analyst from Barclays persists with their Overweight rating on Palo Alto Networks, maintaining a target price of $230. * An analyst from JMP Securities has decided to maintain their Market Outperform rating on Palo Alto Networks, which currently sits at a price target of $250. * Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Palo Alto Networks with a target price of $245.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Palo Alto Networks, Benzinga Pro gives you real-time options trades alerts.
Posted In: PANW