Decoding Zscaler's Options Activity: What's the Big Picture?

Whales with a lot of money to spend have taken a noticeably bearish stance on Zscaler.

Looking at options history for Zscaler ZS we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 22% of the investors opened trades with bullish expectations and 55% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $365,000 and 7, calls, for a total amount of $1,123,045.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $135.0 to $230.0 for Zscaler over the recent three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Zscaler’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Zscaler’s substantial trades, within a strike price spectrum from $135.0 to $230.0 over the preceding 30 days.

Zscaler 30-Day Option Volume & Interest Snapshot

Options Call Chart

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ZS	CALL	TRADE	NEUTRAL	01/17/25	$11.6	$10.85	$11.25	$180.00	$675.0K	820	600
ZS	PUT	TRADE	NEUTRAL	09/19/25	$11.3	$10.65	$11.0	$135.00	$275.0K	18	250
ZS	CALL	TRADE	BEARISH	06/20/25	$40.7	$40.55	$40.55	$145.00	$93.2K	108	23
ZS	PUT	SWEEP	BULLISH	10/18/24	$8.1	$7.5	$7.5	$175.00	$90.0K	253	120
ZS	CALL	TRADE	BEARISH	06/20/25	$38.0	$37.3	$37.3	$150.00	$89.5K	2.6K	95

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.

Present Market Standing of Zscaler

With a volume of 1,255,322, the price of ZS is up 1.52% at $169.53.
RSI indicators hint that the underlying stock may be approaching overbought.
Next earnings are expected to be released in 54 days.

What Analysts Are Saying About Zscaler

In the last month, 5 experts released ratings on this stock with an average target price of $206.0.

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 JP Morgan keeps a Overweight rating on Zscaler with a target price of $220.
* An analyst from Barclays has decided to maintain their Overweight rating on Zscaler, which currently sits at a price target of $200.
* Maintaining their stance, an analyst from Needham continues to hold a Strong Buy rating for Zscaler, targeting a price of $235.
* Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on Zscaler with a target price of $205.
* An analyst from Cantor Fitzgerald has decided to maintain their Neutral rating on Zscaler, which currently sits at a price target of $170.

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.

If you want to stay updated on the latest options trades for Zscaler, Benzinga Pro gives you real-time options trades alerts.

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