Deep-pocketed investors have adopted a bearish approach towards Arista Networks ANET, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ANET usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Arista Networks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 64% bearish. Among these notable options, 2 are puts, totaling $128,490, and 12 are calls, amounting to $687,744.
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 $200.0 to $300.0 for Arista Networks over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Arista Networks options trades today is 361.89 with a total volume of 2,623.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Arista Networks's big money trades within a strike price range of $200.0 to $300.0 over the last 30 days.
Arista Networks Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | NEUTRAL | 04/19/24 | $300.00 | $126.0K | 1.0K | 426 |
| ANET | CALL | SWEEP | BULLISH | 04/19/24 | $300.00 | $122.0K | 1.0K | 222 |
| ANET | CALL | SWEEP | BEARISH | 04/19/24 | $300.00 | $94.2K | 1.0K | 896 |
| ANET | PUT | SWEEP | NEUTRAL | 06/21/24 | $270.00 | $78.5K | 267 | 42 |
| ANET | CALL | SWEEP | NEUTRAL | 01/17/25 | $220.00 | $67.2K | 343 | 0 |
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.
Having examined the options trading patterns of Arista Networks, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Arista Networks
- Trading volume stands at 903,669, with ANET's price down by -0.48%, positioned at $280.5.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 47 days.
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 Arista Networks 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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