Investors with a lot of money to spend have taken a bearish 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 10 uncommon options trades for Arista Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $283,508, and 4 are calls, for a total amount of $150,388.
Predicted Price Range
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 $210.0 for Arista Networks, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Arista Networks options trades today is 325.88 with a total volume of 678.00.
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 $95.0 to $210.0 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | PUT | SWEEP | BULLISH | 11/10/23 | $210.00 | $76.0K | 693 | 48 |
| ANET | PUT | TRADE | BEARISH | 06/21/24 | $180.00 | $54.5K | 99 | 90 |
| ANET | PUT | TRADE | NEUTRAL | 06/21/24 | $180.00 | $53.3K | 99 | 0 |
| ANET | CALL | SWEEP | NEUTRAL | 03/15/24 | $210.00 | $47.7K | 277 | 58 |
| ANET | CALL | TRADE | BEARISH | 06/21/24 | $190.00 | $37.0K | 104 | 1 |
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?
- With a trading volume of 1,142,605, the price of ANET is down by -3.03%, reaching $205.22.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 94 days from now.
What The Experts Say On Arista Networks
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $229.0.
- An analyst from JMP Securities persists with their Market Outperform rating on Arista Networks, maintaining a target price of $215.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Arista Networks with a target price of $235.
- An analyst from Needham persists with their Buy rating on Arista Networks, maintaining a target price of $215.
- An analyst from Goldman Sachs persists with their Buy rating on Arista Networks, maintaining a target price of $248.
- An analyst from Keybanc has decided to maintain their Overweight rating on Arista Networks, which currently sits at a price target of $232.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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