Whales with a lot of money to spend have taken a noticeably bearish stance on Palo Alto Networks ( PANW ).

Looking at options history for Palo Alto Networks ( PANW ) we detected 33 trades.

If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 45% with bearish.

From the overall spotted trades, 17 are puts, for a total amount of $1,884,247 and 16, calls, for a total amount of $1,157,755.

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 $35.0 to $280.0 for Palo Alto Networks ( PANW ) over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Palo Alto Networks ( PANW ) stands at 1088.73, with a total volume reaching 2,980.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palo Alto Networks ( PANW ), situated within the strike price corridor from $35.0 to $280.0, throughout the last 30 days.

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

Largest Options Trades Observed:

About Palo Alto Networks

Palo Alto Networks ( PANW ) 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.

Having examined the options trading patterns of Palo Alto Networks ( PANW ), our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Palo Alto Networks's Current Market Status

With a volume of 3,398,621, the price of PANW is down -1.64% at $169.92.

RSI indicators hint that the underlying stock may be approaching oversold.

Next earnings are expected to be released in 49 days.

What The Experts Say On Palo Alto Networks

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $218.33.

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* Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Palo Alto Networks ( PANW ), targeting a price of $215.

* Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Palo Alto Networks ( PANW ), targeting a price of $235.

* An analyst from Truist Securities persists with their Buy rating on Palo Alto Networks ( PANW ), maintaining a target price of $205.

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 ( PANW ) with Benzinga Pro for real-time alerts.