Deep-pocketed investors have adopted a bullish approach towards Zscaler (NASDAQ:ZS), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ZS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Zscaler. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 2 are puts, totaling $183,200, and 7 are calls, amounting to $304,005.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $220.0 for Zscaler during the past quarter.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Zscaler's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Zscaler's significant trades, within a strike price range of $140.0 to $220.0, over the past month.
Zscaler Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ZS | PUT | TRADE | BULLISH | 07/26/24 | $3.75 | $2.44 | $2.7 | $197.50 | $96.1K | 4 | 344 |
| ZS | PUT | SWEEP | BEARISH | 07/26/24 | $2.8 | $2.79 | $2.8 | $197.50 | $87.0K | 4 | 0 |
| ZS | CALL | TRADE | BULLISH | 09/20/24 | $8.4 | $8.15 | $8.4 | $220.00 | $84.0K | 1.8K | 0 |
| ZS | CALL | TRADE | NEUTRAL | 08/16/24 | $12.95 | $12.6 | $12.8 | $200.00 | $64.0K | 1.9K | 226 |
| ZS | CALL | TRADE | BULLISH | 09/20/24 | $10.8 | $10.5 | $10.8 | $220.00 | $47.5K | 1.8K | 119 |
About Zscaler
Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler's offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.
In light of the recent options history for Zscaler, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Zscaler's Current Market Status
- With a trading volume of 675,818, the price of ZS is up by 0.18%, reaching $202.26.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 50 days from now.
What Analysts Are Saying About Zscaler
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $235.0.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $270.
- An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $200.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Zscaler options trades with real-time alerts from Benzinga Pro.