Deep-pocketed investors have adopted a bullish approach towards Okta (NASDAQ:OKTA), 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 OKTA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Okta. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $84,477, and 6 are calls, amounting to $258,420.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $100.0 for Okta, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Okta stands at 1574.83, with a total volume reaching 5,359.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Okta, situated within the strike price corridor from $80.0 to $100.0, throughout the last 30 days.
Okta Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OKTA | CALL | TRADE | BEARISH | 12/13/24 | $0.26 | $0.22 | $0.23 | $90.00 | $73.6K | 3.8K | 4.2K |
| OKTA | PUT | TRADE | BEARISH | 05/16/25 | $8.85 | $8.75 | $8.85 | $85.00 | $50.4K | 138 | 81 |
| OKTA | CALL | SWEEP | BULLISH | 02/21/25 | $8.3 | $8.2 | $8.3 | $80.00 | $44.8K | 1.7K | 74 |
| OKTA | CALL | TRADE | BEARISH | 12/06/24 | $4.25 | $4.15 | $4.15 | $80.00 | $41.5K | 1.0K | 456 |
| OKTA | CALL | TRADE | BULLISH | 01/16/26 | $11.5 | $11.05 | $11.35 | $100.00 | $39.7K | 1.1K | 35 |
About Okta
Okta is a cloud-native security company that focuses on identity and access management. The San Francisco-based firm went public in 2017 and focuses on two key client stakeholder groups: workforces and customers. Okta's workforce offerings enable a company's employees to securely access its cloud-based and on-premises resources. The firm's customer offerings allow its clients' customers to securely access the client's applications.
Having examined the options trading patterns of Okta, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Okta Standing Right Now?
- With a volume of 3,895,289, the price of OKTA is up 0.43% at $83.87.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 82 days.
What The Experts Say On Okta
5 market experts have recently issued ratings for this stock, with a consensus target price of $103.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Okta with a target price of $115. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Okta, targeting a price of $85. * In a cautious move, an analyst from Truist Securities downgraded its rating to Hold, setting a price target of $92. * In a cautious move, an analyst from Guggenheim downgraded its rating to Buy, setting a price target of $130. * Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Perform rating on Okta with a target price of $96.
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 Okta with Benzinga Pro for real-time alerts.
