A whale with a lot of money to spend has taken a noticeably bullish stance on Okta.
Looking at options history for Okta (NASDAQ:OKTA) we detected 19 strange trades.
If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $395,962 and 8, calls, for a total amount of $638,260.
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 $200.0 for Okta over the last 3 months.
Volume & Open Interest Development
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 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 activity within a strike price range from $130.0 to $200.0 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 | SWEEP | BEARISH | 04/14/22 | $150.00 | $250.9K | 2.9K | 401 |
| OKTA | CALL | TRADE | BULLISH | 05/20/22 | $150.00 | $135.9K | 489 | 98 |
| OKTA | PUT | SWEEP | BEARISH | 09/16/22 | $130.00 | $63.1K | 90 | 57 |
| OKTA | CALL | SWEEP | BEARISH | 05/20/22 | $170.00 | $63.1K | 286 | 126 |
| OKTA | CALL | SWEEP | BULLISH | 04/08/22 | $157.50 | $62.0K | 64 | 58 |
Where Is Okta Standing Right Now?
- With a volume of 1,741,038, the price of OKTA is up 7.9% at $160.55.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 51 days.
What The Experts Say On Okta:
- Stifel has decided to maintain their Hold rating on Okta, which currently sits at a price target of $195.
- Wells Fargo has decided to maintain their Overweight rating on Okta, which currently sits at a price target of $175.
- Mizuho upgraded its action to Buy with a price target of $225
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.
