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 11 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 27% leaning bullish and 72% bearish. Among these notable options, 2 are puts, totaling $82,710, and 9 are calls, amounting to $358,483.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $270.0 to $420.0 for Arista Networks over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Arista Networks stands at 252.6, with a total volume reaching 1,734.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Arista Networks, situated within the strike price corridor from $270.0 to $420.0, throughout the last 30 days.
Arista Networks 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | BEARISH | 04/26/24 | $305.00 | $57.5K | 46 | 46 |
| ANET | CALL | SWEEP | NEUTRAL | 04/05/24 | $317.50 | $50.9K | 300 | 251 |
| ANET | CALL | TRADE | BULLISH | 01/16/26 | $270.00 | $45.6K | 143 | 5 |
| ANET | PUT | TRADE | BEARISH | 03/28/24 | $300.00 | $41.7K | 633 | 475 |
| ANET | PUT | SWEEP | BEARISH | 03/28/24 | $300.00 | $40.9K | 633 | 375 |
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.
Present Market Standing of Arista Networks
- With a volume of 2,447,252, the price of ANET is down -2.51% at $297.83.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 34 days.
Professional Analyst Ratings for Arista Networks
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $356.0.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Arista Networks, which currently sits at a price target of $356.
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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