Deep-pocketed investors have adopted a bearish approach towards Arista Networks ANET, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ANET usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 25 extraordinary options activities for Arista Networks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 56% bearish. Among these notable options, 2 are puts, totaling $61,700, and 23 are calls, amounting to $1,943,386.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $380.0 for Arista Networks, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Arista Networks's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Arista Networks's whale trades within a strike price range from $95.0 to $380.0 in the last 30 days.
Arista Networks Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | CALL | SWEEP | BULLISH | 06/21/24 | $300.00 | $1.0M | 911 | 623 |
| ANET | CALL | TRADE | BEARISH | 09/20/24 | $320.00 | $89.8K | 90 | 0 |
| ANET | CALL | SWEEP | NEUTRAL | 04/05/24 | $295.00 | $57.0K | 234 | 49 |
| ANET | CALL | SWEEP | NEUTRAL | 04/05/24 | $295.00 | $56.0K | 234 | 89 |
| ANET | CALL | SWEEP | NEUTRAL | 04/05/24 | $295.00 | $54.5K | 234 | 129 |
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.
In light of the recent options history for Arista Networks, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Arista Networks Standing Right Now?
- Currently trading with a volume of 1,014,285, the ANET's price is up by 0.05%, now at $304.75.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 38 days.
What Analysts Are Saying About Arista Networks
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $356.0.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Arista Networks, which currently sits at a price target of $356.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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