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What Are Whales Doing With Zscaler

Someone with a lot of money to spend has taken a bearish stance on Zscaler 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 26 uncommon options trades for Zscaler.

This isn’t normal.

The overall sentiment of these big-money traders is split between 23% bullish and 76%, bearish.

Out of all of the special options we uncovered, 21 are puts, for a total amount of $2,575,780, and 5 are calls, for a total amount of $336,720.

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 $130.0 to $250.0 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 $130.0 to $250.0 in the last 30 days.

Zscaler Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ZS PUT TRADE BULLISH 01/19/24 $180.00 $1.1M 108 0
ZS PUT SWEEP NEUTRAL 05/20/22 $145.00 $334.0K 149 2
ZS PUT SWEEP NEUTRAL 01/19/24 $195.00 $139.8K 26 20
ZS PUT SWEEP BULLISH 06/17/22 $175.00 $105.4K 196 1
ZS CALL SWEEP BULLISH 01/20/23 $250.00 $95.4K 4.7K 317

Where Is Zscaler Standing Right Now?

  • With a volume of 1,310,880, the price of ZS is up 10.03% at $151.44.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 13 days.

What The Experts Say On Zscaler:

  • Truist Securities has decided to maintain their Buy rating on Zscaler, which currently sits at a price target of $275.

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 want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

This post was originally published on this site

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