Benzinga | Jan 10, 2022 12:35PM EST

What Are Whales Doing With Palo Alto Networks

A whale with a lot of money to spend has taken a noticeably bearish stance on Palo Alto Networks.

Looking at options history for Palo Alto Networks (NASDAQ:PANW) we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $335,088 and 6, calls, for a total amount of $316,989.

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 $350.0 to $560.0 for Palo Alto Networks over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Palo Alto Networks options trades today is 500.5 with a total volume of 1,256.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Palo Alto Networks's big money trades within a strike price range of $350.0 to $560.0 over the last 30 days.

Palo Alto Networks 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 InterestPANW CALL SWEEP NEUTRAL 01/20/ $350.00 $89.0K 121 5 23PANW PUT TRADE BULLISH 02/04/ $460.00 $83.0K 3 300 22PANW CALL TRADE BULLISH 02/18/ $560.00 $53.0K 561 344 22PANW CALL TRADE BULLISH 06/17/ $540.00 $50.6K 401 16 22PANW CALL TRADE NEUTRAL 06/17/ $540.00 $49.6K 401 31 22

Where Is Palo Alto Networks Standing Right Now?

* With a volume of 1,199,874, the price of PANW is down -5.09% at $498.74.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 43 days.

What The Experts Say On Palo Alto Networks:

* Wells Fargo downgraded its action to Overweight with a price target of $700

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.

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