Investors with a lot of money to spend have taken a bullish stance on Zscaler (NASDAQ:ZS).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 these investors just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for Zscaler.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 25%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $72,195, and 10 are calls, for a total amount of $569,074.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $180.0 and $220.0 for Zscaler, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $180.0 to $220.0 in the last 30 days.
Zscaler Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
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.
Having examined the options trading patterns of Zscaler, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Zscaler
- Currently trading with a volume of 1,161,419, the ZS's price is up by 1.47%, now at $190.41.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 83 days.
Expert Opinions on Zscaler
5 market experts have recently issued ratings for this stock, with a consensus target price of $217.4.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Zscaler, targeting a price of $192.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Zscaler, targeting a price of $230.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Zscaler, which currently sits at a price target of $205.
- An analyst from Mizuho has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $240.
- An analyst from BTIG has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $220.
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 Zscaler with Benzinga Pro for real-time alerts.
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