Investors with a lot of money to spend have taken a bullish stance on Arista Networks ANET.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 10 options trades for Arista Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $190,800, and 9, calls, for a total amount of $324,215.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $230.0 to $290.0 for Arista Networks during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Arista Networks options trades today is 237.5 with a total volume of 567.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Arista Networks's big money trades within a strike price range of $230.0 to $290.0 over the last 30 days.
Arista Networks Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | PUT | TRADE | BEARISH | 01/17/25 | $21.3 | $20.9 | $21.2 | $230.00 | $190.8K | 244 | 90 |
| ANET | CALL | SWEEP | BEARISH | 05/03/24 | $5.6 | $5.4 | $5.4 | $260.00 | $61.5K | 130 | 198 |
| ANET | CALL | SWEEP | BULLISH | 05/10/24 | $10.1 | $9.7 | $10.1 | $272.50 | $47.4K | 10 | 47 |
| ANET | CALL | TRADE | BEARISH | 05/03/24 | $5.8 | $5.5 | $5.6 | $260.00 | $37.5K | 130 | 83 |
| ANET | CALL | SWEEP | BULLISH | 01/16/26 | $66.2 | $64.2 | $65.38 | $270.00 | $32.7K | 154 | 5 |
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.
Having examined the options trading patterns of Arista Networks, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Arista Networks
- Trading volume stands at 1,040,780, with ANET's price down by -1.38%, positioned at $260.04.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 7 days.
What The Experts Say On Arista Networks
2 market experts have recently issued ratings for this stock, with a consensus target price of $262.5.
- Reflecting concerns, an analyst from Rosenblatt lowers its rating to Sell with a new price target of $210.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Arista Networks with a target price of $315.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
