Arista Networks Options Trading: A Deep Dive into Market Sentiment

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 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 25 uncommon options trades for Arista Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 36%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $307,840, and 16 are calls, for a total amount of $841,909.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $430.0 for Arista Networks over the last 3 months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Arista Networks stands at 321.82, with a total volume reaching 1,800.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Arista Networks, situated within the strike price corridor from $200.0 to $430.0, throughout the last 30 days.

Arista Networks 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ANET CALL TRADE BULLISH 06/21/24 $35.1 $32.6 $34.5 $280.00 $172.5K 1.1K 54
ANET CALL SWEEP BULLISH 05/10/24 $17.9 $17.6 $17.9 $290.00 $125.3K 483 54
ANET CALL TRADE BEARISH 06/20/25 $22.8 $22.6 $22.6 $430.00 $70.0K 29 54
ANET CALL TRADE BULLISH 05/17/24 $56.3 $54.7 $56.3 $250.00 $56.3K 206 0
ANET CALL TRADE BEARISH 06/21/24 $59.8 $58.0 $58.0 $250.00 $46.4K 847 3

About Arista Networks

Arista Networks 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.

Arista Networks's Current Market Status

  • With a trading volume of 1,977,841, the price of ANET is up by 4.88%, reaching $310.51.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 80 days from now.

What Analysts Are Saying About Arista Networks

In the last month, 5 experts released ratings on this stock with an average target price of $293.2.

  • An analyst from Keybanc has decided to maintain their Overweight rating on Arista Networks, which currently sits at a price target of $349.
  • An analyst from UBS persists with their Neutral rating on Arista Networks, maintaining a target price of $285.
  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Arista Networks with a target price of $302.
  • An analyst from Needham downgraded its action to Buy with a price target of $320.
  • An analyst from Rosenblatt has revised its rating downward to Sell, adjusting the price target to $210.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Arista Networks with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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