Benzinga's options scanner has just identified more than 8 option transactions on Verizon Communications VZ, with a cumulative value of $694,983. Concurrently, our algorithms picked up 4 puts, worth a total of 394,608.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $33.0 to $45.0 for Verizon Communications over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Verizon Communications's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Verizon Communications's substantial trades, within a strike price spectrum from $33.0 to $45.0 over the preceding 30 days.
Verizon Communications 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| VZ | CALL | SWEEP | BULLISH | 04/19/24 | $40.00 | $216.0K | 11.4K | 2.0K |
| VZ | PUT | SWEEP | BULLISH | 09/20/24 | $45.00 | $130.2K | 57 | 187 |
| VZ | PUT | SWEEP | BULLISH | 07/19/24 | $43.00 | $108.7K | 293 | 209 |
| VZ | PUT | SWEEP | BULLISH | 07/19/24 | $43.00 | $90.6K | 293 | 385 |
| VZ | PUT | SWEEP | BULLISH | 01/19/24 | $40.00 | $65.0K | 15.6K | 1.0K |
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.
Having examined the options trading patterns of Verizon Communications, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Verizon Communications
- Trading volume stands at 12,729,633, with VZ's price up by 1.53%, positioned at $38.48.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 11 days.
What The Experts Say On Verizon Communications
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $44.0.
- Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $43.
- An analyst from Keybanc has elevated its stance to Overweight, setting a new price target at $45.
- An analyst from Citigroup persists with their Buy rating on Verizon Communications, maintaining a target price of $42.
- An analyst from Wolfe Research has elevated its stance to Outperform, setting a new price target at $46.
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.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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