Deep-pocketed investors have adopted a bullish approach towards Arista Networks (NYSE: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 8 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 37% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $121,050, and 5 are calls, amounting to $288,490.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $270.0 and $410.0 for Arista Networks, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $270.0 to $410.0 in the last 30 days.
Arista Networks Option Volume And Open Interest Over Last 30 Days
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 | BEARISH | 11/15/24 | $138.4 | $136.0 | $136.0 | $270.00 | $136.0K | 293 | 10 |
| ANET | PUT | TRADE | BULLISH | 01/17/25 | $36.3 | $33.3 | $34.45 | $410.00 | $68.9K | 3 | 0 |
| ANET | CALL | TRADE | BULLISH | 11/29/24 | $43.4 | $42.2 | $43.4 | $380.00 | $43.4K | 0 | 10 |
| ANET | CALL | TRADE | BEARISH | 10/11/24 | $76.6 | $74.6 | $74.6 | $330.00 | $37.3K | 28 | 5 |
| ANET | CALL | SWEEP | BEARISH | 10/11/24 | $75.3 | $72.3 | $72.92 | $330.00 | $36.4K | 28 | 10 |
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.
Where Is Arista Networks Standing Right Now?
- Currently trading with a volume of 388,866, the ANET's price is up by 0.17%, now at $407.64.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 18 days.
Professional Analyst Ratings for Arista Networks
4 market experts have recently issued ratings for this stock, with a consensus target price of $428.75.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Evercore ISI Group persists with their Outperform rating on Arista Networks, maintaining a target price of $425. * An analyst from Evercore ISI Group persists with their Outperform rating on Arista Networks, maintaining a target price of $400. * An analyst from Citigroup has decided to maintain their Buy rating on Arista Networks, which currently sits at a price target of $460. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Arista Networks, targeting a price of $430.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Arista Networks options trades with real-time alerts from Benzinga Pro.
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