This Is What Whales Are Betting On Zscaler

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 73 extraordinary options activities for Zscaler. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 47% leaning bullish and 41% bearish. Among these notable options, 64 are puts, totaling $3,629,373, and 9 are calls, amounting to $442,001.

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 $145.0 to $220.0 for Zscaler during the past quarter.

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 $145.0 to $220.0 in the last 30 days.

Zscaler Option Volume And Open Interest Over 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 SWEEP NEUTRAL 08/16/24 $39.65 $39.05 $39.65 $210.00 $142.6K 267 763
ZS PUT SWEEP BULLISH 08/16/24 $39.7 $39.55 $39.55 $210.00 $118.6K 267 828
ZS PUT SWEEP BEARISH 08/16/24 $39.65 $38.6 $39.65 $210.00 $102.9K 267 292
ZS PUT SWEEP BULLISH 12/20/24 $35.1 $34.75 $34.75 $195.00 $90.3K 157 0
ZS PUT TRADE BEARISH 08/16/24 $39.65 $38.8 $39.65 $210.00 $79.3K 267 568

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.

Following our analysis of the options activities associated with Zscaler, we pivot to a closer look at the company's own performance.

Where Is Zscaler Standing Right Now? Trading volume stands at 1,620,971, with ZS's price down by -0.04%, positioned at $169.89. RSI indicators show the stock to be is currently neutral between overbought and oversold. Earnings announcement expected in 92 days. Expert Opinions on Zscaler

In the last month, 5 experts released ratings on this stock with an average target price of $229.0.

Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $270. 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 Loop Capital persists with their Hold rating on Zscaler, maintaining a target price of $180. Maintaining their stance, an analyst from Bernstein continues to hold a Outperform rating for Zscaler, targeting a price of $270. An analyst from Mizuho 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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