20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Investors with a lot of money to spend have taken a bullish stance on Arista Networks (NYSE:ANET).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ANET, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 32 uncommon options trades for Arista Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $214,770, and 26 are calls, for a total amount of $1,145,919.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $250.0 and $450.0 for Arista Networks, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Arista Networks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Arista Networks's substantial trades, within a strike price spectrum from $250.0 to $450.0 over the preceding 30 days.
Arista Networks Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | BULLISH | 04/19/24 | $7.5 | $7.1 | $7.5 | $305.00 | $147.7K | 458 | 416 |
| ANET | CALL | SWEEP | BULLISH | 04/19/24 | $6.9 | $6.7 | $6.9 | $305.00 | $138.0K | 458 | 216 |
| ANET | CALL | TRADE | NEUTRAL | 09/20/24 | $16.6 | $16.4 | $16.5 | $360.00 | $82.5K | 92 | 50 |
| ANET | CALL | SWEEP | BULLISH | 12/20/24 | $10.0 | $9.7 | $9.9 | $450.00 | $58.4K | 0 | 60 |
| ANET | CALL | SWEEP | BEARISH | 04/05/24 | $10.9 | $10.5 | $10.65 | $290.00 | $53.0K | 419 | 214 |
About Arista Networks
Arista Networks Inc is a networking equipment provider that primarily sells Ethernet switches and software to data centers. Its marquee product is its extensible operating system, or EOS, that runs a single image across every single one of its devices. The firm operates as one reportable segment. It has steadily gained market share since its founding in 2004, with a focus on high-speed applications. Arista counts Microsoft and Meta Platforms as its largest customers and derives roughly three quarters of its sales from North America.
Following our analysis of the options activities associated with Arista Networks, we pivot to a closer look at the company's own performance.
Current Position of Arista Networks
- With a volume of 1,031,007, the price of ANET is down -0.2% at $290.27.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 26 days.
Professional Analyst Ratings for Arista Networks
2 market experts have recently issued ratings for this stock, with a consensus target price of $328.0.
- An analyst from Goldman Sachs persists with their Buy rating on Arista Networks, maintaining a target price of $356.
- An analyst from Evercore ISI Group persists with their Outperform rating on Arista Networks, maintaining a target price of $300.
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 Arista Networks, Benzinga Pro gives you real-time options trades alerts.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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