Financial giants have made a conspicuous bullish move on Verizon Communications. Our analysis of options history for Verizon Communications VZ revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $82,080, and 6 were calls, valued at $492,771.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $50.0 for Verizon Communications over the last 3 months.
Volume & Open Interest Development
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 $20.0 to $50.0 over the preceding 30 days.
Verizon Communications Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| VZ | CALL | TRADE | BULLISH | 02/16/24 | $20.00 | $152.7K | 0 | 0 |
| VZ | CALL | SWEEP | BULLISH | 01/26/24 | $39.50 | $127.5K | 3.2K | 41 |
| VZ | CALL | SWEEP | BULLISH | 01/26/24 | $39.50 | $69.3K | 3.2K | 4.7K |
| VZ | CALL | SWEEP | BULLISH | 02/02/24 | $41.00 | $57.5K | 731 | 591 |
| VZ | PUT | SWEEP | BEARISH | 01/19/24 | $45.00 | $47.2K | 397 | 160 |
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.
Current Position of Verizon Communications
- Currently trading with a volume of 6,646,612, the VZ's price is up by 0.6%, now at $39.17.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 4 days.
Professional Analyst Ratings for Verizon Communications
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $45.5.
- In a positive move, an analyst from Wolfe Research has upgraded their rating to Outperform and adjusted the price target to $46.
- Showing optimism, an analyst from Keybanc upgrades its rating to Overweight with a revised 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.
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