This Is What Whales Are Betting On Okta
Portfolio Pulse from Benzinga Insights
Whales have shown a bearish stance on Okta (NASDAQ:OKTA), with options trading indicating a split sentiment of 44% bullish and 55% bearish. Notable options activity includes a mix of calls and puts, targeting a price range of $70.0 to $105.0 for Okta. The company, a cloud-native security firm focusing on identity and access management, is currently trading at $86.14, down by -0.89%, with an anticipated earnings release in 0 days.
February 28, 2024 | 5:15 pm
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NEGATIVE IMPACT
Whales have taken a bearish stance on Okta, with significant options trading activity indicating a price target range of $70 to $105. The stock is currently down by -0.89%, trading at $86.14, with an earnings release expected imminently.
The bearish stance by whales, combined with the imminent earnings release and the current negative price movement, suggests a potential short-term downside for Okta's stock. The significant options activity, especially the bearish sentiment, indicates that investors are preparing for price movements within the specified range, which could lead to increased volatility around the earnings announcement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100