Investors with a lot of money to spend have taken a bullish stance on Verizon Communications VZ.
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 VZ, 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 14 uncommon options trades for Verizon Communications.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $383,023, and 8 are calls, for a total amount of $712,533.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $80.0 for Verizon Communications during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Verizon Communications stands at 6489.27, with a total volume reaching 8,042.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Verizon Communications, situated within the strike price corridor from $20.0 to $80.0, throughout the last 30 days.
Verizon Communications 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| VZ | CALL | TRADE | BULLISH | 01/17/25 | $42.00 | $334.7K | 9.1K | 3.2K |
| VZ | CALL | SWEEP | BEARISH | 04/19/24 | $31.00 | $151.8K | 538 | 300 |
| VZ | PUT | SWEEP | BULLISH | 01/19/24 | $80.00 | $131.9K | 57 | 30 |
| VZ | PUT | SWEEP | NEUTRAL | 01/19/24 | $80.00 | $66.2K | 57 | 45 |
| VZ | PUT | SWEEP | BEARISH | 11/17/23 | $36.00 | $62.6K | 1.0K | 1.3K |
About Verizon Communications
Verizon Communications is primarily a wireless business (it provides about 70% of service revenue and nearly all operating income). It serves about 92 million postpaid and 22 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest U.S. wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 25 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.
Where Is Verizon Communications Standing Right Now?
- Trading volume stands at 11,680,847, with VZ's price down by -0.03%, positioned at $35.7.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 71 days.
Professional Analyst Ratings for Verizon Communications
2 market experts have recently issued ratings for this stock, with a consensus target price of $41.5.
- An analyst from Barclays upgraded its action to Overweight with a price target of $38.
- An analyst from Tigress Financial has decided to maintain their Buy rating on Verizon Communications, which currently sits at a price target of $45.
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 Verizon Communications 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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