Investors with a lot of money to spend have taken a bullish stance on Cisco Systems CSCO.
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 CSCO, 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 Cisco Systems.
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 $1,263,726, and 8 are calls, for a total amount of $1,046,313.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $57.5 for Cisco Systems, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cisco Systems's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cisco Systems's whale activity within a strike price range from $45.0 to $57.5 in the last 30 days.
Cisco Systems Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CSCO | PUT | TRADE | BULLISH | 06/21/24 | $45.00 | $994.3K | 10.1K | 9.8K |
| CSCO | CALL | TRADE | BULLISH | 06/21/24 | $52.50 | $677.6K | 17.7K | 4.5K |
| CSCO | PUT | SWEEP | BEARISH | 02/16/24 | $50.00 | $122.0K | 13.0K | 974 |
| CSCO | CALL | SWEEP | BEARISH | 01/17/25 | $45.00 | $105.0K | 2.6K | 393 |
| CSCO | CALL | TRADE | BEARISH | 03/08/24 | $52.00 | $76.4K | 44 | 1.2K |
About Cisco Systems
Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world. Its largest businesses are selling networking hardware and software (where it has leading market shares) and cybersecurity software like firewalls. It also has collaboration products, like its Webex suite, and observability tools. It primarily outsources its manufacturing to third parties and has a large sales and marketing staff—25,000 strong across 90 countries. Overall, Cisco employees 80,000 employees and sells its products globally.
Where Is Cisco Systems Standing Right Now?
- Currently trading with a volume of 9,837,370, the CSCO's price is down by -0.38%, now at $49.99.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 9 days.
What Analysts Are Saying About Cisco Systems
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $55.0.
- An analyst from Melius Research has revised its rating downward to Hold, adjusting the price target to $55.
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 Cisco Systems 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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