Notable Thursday Option Activity: SLNO, OKTA, QTTB
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 10 2025
0mins
Should l Buy OKTA?
Source: NASDAQ.COM
Okta Inc Options Activity: Okta Inc (OKTA) has seen a significant options volume of 25,503 contracts today, with a notable focus on the $103 strike call option expiring July 18, 2025, which accounted for 5,767 contracts traded.
Q32 Bio Inc Options Activity: Q32 Bio Inc (QTTB) reported an options volume of 966 contracts today, primarily driven by the $2.50 strike call option expiring August 15, 2025, which had 794 contracts traded.
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Analyst Views on OKTA
Wall Street analysts forecast OKTA stock price to rise
31 Analyst Rating
22 Buy
8 Hold
1 Sell
Moderate Buy
Current: 84.910
Low
75.00
Averages
114.03
High
145.00
Current: 84.910
Low
75.00
Averages
114.03
High
145.00
About OKTA
Okta, Inc. is an independent identity partner. The Company’s Okta Platform and Auth () Platform enable its customers to securely connect the right people to the right technologies and services at the right time. It offers independent and neutral cloud-based identity solutions that allow customers to integrate with nearly any application, service or cloud that they choose through its platforms. Organizations use the Company’s Identity Platform to collaborate with their partners, and to provide their customers with secure experiences in the cloud and via mobile devices. Developers leverage the Workforce Identity Cloud and Customer Identity Cloud, powered by Auth (), to securely and efficiently embed identity into the software they build, allowing them to innovate and focus on their core missions. Its Okta Platform enables its customers to automate and secure access across their ecosystem of employees, contractors and partners, increasing collaboration across their workforces.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Extreme Price Volatility: Analysts point out that the extreme price action in software stocks has led to unrealistic expectations regarding AI disruption, which may prompt a rotation back into higher-quality companies, thereby improving portfolio performance.
- AI Profitability Gains: Companies in the S&P 500 that have adopted AI have seen net margins expand by approximately 2 to 3 percentage points more than their peers, indicating that AI technology is already delivering productivity gains and reflecting that corporate adoption is enhancing profitability.
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See More
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- Current Software Market: Despite the Dow Jones Industrial Average surpassing 50,000 and the S&P 500 gaining at least 16% in six of the last seven years, the iShares Expanded Tech-Software Sector ETF is nearly 28% below its all-time high, indicating that software stocks are in a bear market, presenting opportunities for value investors.
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- Adobe's Performance Recovery: Adobe's Digital Media segment achieved $19.2 billion in annual recurring revenue for FY 2025, an 11.5% increase, and despite fears surrounding generative AI, its strong cash flow and share buyback program (30.8 million shares in FY 2025) indicate financial health, with a forward P/E of 10.1, 61% below its historical average.
- Okta's Rising Security Demand: Okta's RPO increased 17% year-over-year to nearly $4.3 billion in Q3, as the shift of enterprise data to the cloud boosts cybersecurity demand; its AI-driven platform provides identity authentication and application authorization, and while facing AI competition, its forward P/E of 24 shows relative attractiveness.
See More
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- Current Software Market Status: Despite the Dow Jones and S&P 500 reaching new highs, the iShares Expanded Tech-Software Sector ETF has plunged 32% from its all-time high, indicating a bearish trend in software stocks that investors need to navigate cautiously.
- Salesforce's Growth Potential: Salesforce's Agentforce AI platform generated over $500 million in annual recurring revenue in Q3, up 330% year-over-year, and despite AI threats, the company maintains market leadership through strategic acquisitions and high-margin growth.
- Adobe's Financial Performance: Adobe achieved an 11% sales growth in fiscal 2025, with its Digital Media segment's annual recurring revenue reaching $19.2 billion; despite AI competition, Adobe's buyback of 30.8 million shares enhances earnings per share, showcasing strong cash flow.
- Okta's Market Demand: Okta's RPO increased by 17% year-over-year to nearly $4.3 billion in Q3, and as cybersecurity needs rise, the company leverages AI and machine learning to enhance identity verification services, demonstrating robust market adaptability.
See More
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Market Impact: The software sector has experienced a $2 trillion loss due to concerns over potential disruptions from artificial intelligence technology.
Investment Perspective: Analysts at J.P. Morgan view this downturn as a buying opportunity and have identified several AI-resistant companies, including Microsoft and CrowdStrike.
See More
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Market Impact: The software sector has experienced a significant decline, losing approximately $2 trillion due to concerns over potential disruptions from artificial intelligence technology.
Investment Perspective: Analysts at J.P. Morgan view this downturn as a potential buying opportunity and have identified a list of companies that are resistant to AI-related disruptions.
See More
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- Declining Market Attention: Despite Okta's strong performance in identity verification and solid results over the past few quarters, its stock has fallen over 30% from its May highs, indicating market neglect that could undermine investor confidence.
- Low Earnings Growth Expectation: Okta is projected to have only 7% earnings growth this year, which has kept it off Jim Cramer's recommended list, reflecting a cautious market outlook on its future performance.
- AI Security Opportunity: CEO Todd McKinnon highlighted a significant opportunity for Okta in securing thousands, if not millions, of AI agents being created within enterprises, a perspective that resonated with Cramer and could drive future growth for the company.
- Attractive Valuation: With Okta's stock currently trading at just 23 times this year's expected earnings, Cramer sees it as a buying opportunity worth considering, despite the prevailing negative market sentiment, as its fundamentals remain strong.
See More
