Check Out What Whales Are Doing With Verizon Communications

Investors with a lot of money to spend have taken a bearish stance on Verizon Communications VZ.

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 VZ, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 15 options trades for Verizon Communications.

This isn't normal.

The overall sentiment of these big-money traders is split between 20% bullish and 46%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $27,470, and 14, calls, for a total amount of $724,131.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $34.0 to $46.0 for Verizon Communications during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Verizon Communications options trades today is 4397.0 with a total volume of 27,421.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Verizon Communications's big money trades within a strike price range of $34.0 to $46.0 over the last 30 days.

Verizon Communications Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Verizon Communications

Wireless services account for about 70% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 93 million postpaid and 20 million prepaid phone customers via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 30 million homes and businesses and serve about 8 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, often using a mixture of its own and other carriers' networks. Verizon agreed to acquire Frontier Communications in September 2024.

Current Position of Verizon Communications

• With a volume of 18,171,552, the price of VZ is up 1.64% at $43.62.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 11 days.

Expert Opinions on Verizon Communications

In the last month, 3 experts released ratings on this stock with an average target price of $47.83.

Turn $1000 into $1270 in just 20 days?

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. * Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $45. * An analyst from Scotiabank has decided to maintain their Sector Perform rating on Verizon Communications, which currently sits at a price target of $48. * An analyst from Oppenheimer has decided to maintain their Outperform rating on Verizon Communications, which currently sits at a price target of $50.

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 Verizon Communications with Benzinga Pro for real-time alerts.