Benzinga | Jan 6, 2022 02:06PM EST

Check Out What Whales Are Doing With Zscaler

A whale with a lot of money to spend has taken a noticeably bullish stance on Zscaler.

Looking at options history for Zscaler (NASDAQ:ZS) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $454,809 and 2, calls, for a total amount of $109,380.

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 $155.0 to $340.0 for Zscaler over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Zscaler'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 Zscaler's whale trades within a strike price range from $155.0 to $340.0 in 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 PUT SWEEP BEARISH 01/21/ $260.00 $178.4K 886 143 22ZS CALL TRADE BULLISH 01/14/ $250.00 $83.2K 80 70 22ZS PUT TRADE NEUTRAL 05/20/ $240.00 $50.8K 604 92 22ZS PUT SWEEP BEARISH 01/07/ $340.00 $49.2K 25 6 22ZS PUT TRADE BULLISH 05/20/ $270.00 $45.0K 218 17 22

Where Is Zscaler Standing Right Now?

* With a volume of 1,720,306, the price of ZS is up 0.03% at $262.41.

* 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 Zscaler:

* Wells Fargo downgraded its action to Overweight with a price target of $400

* JP Morgan downgraded its action to Underweight with a price target of $320

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.