Benzinga | Dec 30, 2021 02:21PM EST

What Are Whales Doing With Zscaler

Someone with a lot of money to spend has taken a bullish stance on Zscaler (NASDAQ:ZS).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ZS, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 13 uncommon options trades for Zscaler.

This isn't normal.

The overall sentiment of these big-money traders is split between 61% bullish and 38%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $79,050, and 11 are calls, for a total amount of $497,738.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $340.0 for Zscaler over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Zscaler options trades today is 444.3 with a total volume of 658.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Zscaler's big money trades within a strike price range of $60.0 to $340.0 over the last 30 days.

Zscaler Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestZS CALL SWEEP BULLISH 01/21/ $60.00 $132.5K 708 6 22ZS CALL TRADE BULLISH 02/18/ $280.00 $53.0K 186 10 22ZS CALL TRADE BEARISH 07/15/ $310.00 $47.5K 272 9 22ZS CALL TRADE BULLISH 01/20/ $180.00 $47.1K 487 3 23ZS CALL SWEEP BEARISH 01/21/ $340.00 $44.8K 1.1K 0 22

Where Is Zscaler Standing Right Now?

* With a volume of 745,281, the price of ZS is up 1.9% at $329.33.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 56 days.

What The Experts Say On Zscaler:

* Mizuho has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $400.

* Deutsche Bank has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $430.

* BTIG has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $439.

* Daiwa Capital downgraded its action to Underperform with a price target of $286

* JMP Securities has decided to maintain their Market Outperform rating on Zscaler, which currently sits at a price target of $400.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.