Decoding Pure Storage's Options Activity: What's the Big Picture? - Pure Storage (NYSE:PSTG)

Core Insights - Deep-pocketed investors have adopted a bearish approach towards Pure Storage, indicating potential significant market movements ahead [1] - The options activity for Pure Storage is unusually high, with 75% of heavyweight investors leaning bearish and only 12% bullish [2] Options Activity - There have been 8 extraordinary options activities for Pure Storage, with 5 puts totaling $550,782 and 3 calls amounting to $448,818 [2] - The major market movers are focusing on a price band between $40.0 and $90.0 for Pure Storage over the last three months [3] Volume and Open Interest - Analyzing volume and open interest provides insights into the liquidity and interest for Pure Storage's options within the strike price range of $40.0 to $90.0 over the last 30 days [4] Market Standing and Analyst Insights - Trading volume for Pure Storage stands at 765,564, with the stock price at $72.12, reflecting a decrease of -0.32% [7] - Analysts from Evercore ISI Group and Citigroup maintain an Outperform and Buy rating on Pure Storage, respectively, both with a target price of $90 [7]