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 13 uncommon options trades for Arista Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $148,120, and 9 are calls, for a total amount of $340,958.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $140.0 to $300.0 for Arista Networks over the recent three months.
Analyzing 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 Arista Networks'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 Arista Networks's whale activity within a strike price range from $140.0 to $300.0 in the last 30 days.
Arista Networks Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | CALL | SWEEP | BEARISH | 03/01/24 | $265.00 | $66.2K | 416 | 560 |
| ANET | CALL | TRADE | BEARISH | 01/16/26 | $300.00 | $57.7K | 1.3K | 12 |
| ANET | PUT | TRADE | BULLISH | 03/22/24 | $255.00 | $47.3K | 14 | 1 |
| ANET | CALL | SWEEP | BULLISH | 05/17/24 | $280.00 | $44.6K | 448 | 27 |
| ANET | PUT | SWEEP | BEARISH | 02/23/24 | $252.50 | $39.0K | 182 | 171 |
About Arista Networks
Arista Networks Inc 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.
In light of the recent options history for Arista Networks, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Arista Networks's Current Market Status
- Currently trading with a volume of 796,083, the ANET's price is up by 0.07%, now at $259.8.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 68 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Arista Networks, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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