Buying PANW call contracts.
Palo Alto Networks (PANW) is a leading cybersecurity company with reliable profits and strong growth.
The stock has been under pressure this month as the tech area sold off. But shares actually held up better than many other names in the group.
While still trading at a premium price, the pullback puts PANW near 53 times next year’s earnings. That’s much more reasonable than many other tech stocks that still have nosebleed multiples. And PANW profits are growing at a healthy pace.
With the market likely to mount a relief rally (if not a full-fledged bear market bottom), PANW should be one of the primary beneficiaries.