Zscaler lifted its full-year forecast

Zscaler Inc (NASDAQ:ZS) is hovering right this moment, up 22.5% at $109.60 eventually look, after the cloud safety identify raised its full-year forecast and introduced better-than-expected preliminary fiscal third-quarter outcomes. 

Choices merchants are responding, with 50,000 calls and 28,000 places exchanged up to now, which is already 3.2 occasions the typical day by day quantity. The weekly 5/12 110-strike name is the most well-liked, adopted by the month-to-month Could 110 name, with new positions being opened at each. 

That $110 stage seems to be the place the inventory runs out of steam, as it’s residence to ZS’ mid-April peak and performing as a line of strain right this moment. As we speak’s bull hole does have the fairness breaking above its 40-day transferring common, nonetheless. Yr-to-date, Zscaler inventory is down 2.8%. 

It is also value noting that quick curiosity represents 8.7% of the inventory’s out there float. It will take roughly three days for shorts to cowl, at ZS’ common tempo of buying and selling.