A whale with a lot of money to spend has taken a noticeably bearish stance on Okta.
Looking at options history for Okta (NASDAQ:OKTA) we detected 22 strange trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $301,555 and 14, calls, for a total amount of $1,000,274.
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 $100.0 to $230.0 for Okta 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 Okta'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 Okta's whale trades within a strike price range from $100.0 to $230.0 in the last 30 days.
Okta Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | TRADE | BEARISH | 04/14/22 | $160.00 | $280.0K | 58 | 534 |
| OKTA | CALL | TRADE | BULLISH | 01/20/23 | $100.00 | $178.6K | 105 | 25 |
| OKTA | CALL | TRADE | BEARISH | 04/14/22 | $150.00 | $81.6K | 30 | 68 |
| OKTA | PUT | TRADE | BEARISH | 05/20/22 | $160.00 | $64.0K | 366 | 66 |
| OKTA | PUT | TRADE | BULLISH | 05/20/22 | $220.00 | $59.5K | 198 | 10 |
Where Is Okta Standing Right Now?
- With a volume of 7,826,130, the price of OKTA is down -2.07% at $165.91.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 64 days.
What The Experts Say On Okta:
- Mizuho upgraded its action to Buy with a price target of $225
- Wells Fargo has decided to maintain their Overweight rating on Okta, which currently sits at a price target of $235.
- RBC Capital has decided to maintain their Outperform rating on Okta, which currently sits at a price target of $260.
- Raymond James has decided to maintain their Strong Buy rating on Okta, which currently sits at a price target of $260.
- Needham has decided to maintain their Buy rating on Okta, which currently sits at a price target of $235.
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.
