Whales with a lot of money to spend have taken a noticeably bearish stance on Arista Networks.
Looking at options history for Arista Networks ANET we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $74,407 and 8, calls, for a total amount of $314,220.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $290.0 to $410.0 for Arista Networks during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $290.0 to $410.0 in the last 30 days.
Arista Networks 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | SWEEP | BEARISH | 01/17/25 | $31.2 | $30.3 | $30.4 | $340.00 | $94.2K | 250 | 3 |
| ANET | PUT | SWEEP | BULLISH | 05/17/24 | $70.0 | $69.5 | $70.0 | $360.00 | $49.0K | 20 | 0 |
| ANET | CALL | TRADE | BEARISH | 04/26/24 | $10.9 | $10.4 | $10.6 | $290.00 | $42.4K | 353 | 22 |
| ANET | CALL | TRADE | NEUTRAL | 04/26/24 | $9.7 | $9.3 | $9.5 | $290.00 | $38.0K | 353 | 68 |
| ANET | CALL | SWEEP | NEUTRAL | 05/17/24 | $3.3 | $3.1 | $3.2 | $350.00 | $32.0K | 508 | 22 |
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.
After a thorough review of the options trading surrounding Arista Networks, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Arista Networks
- With a volume of 1,017,583, the price of ANET is down -1.95% at $289.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 27 days.
What The Experts Say On Arista Networks
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $328.0.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Arista Networks with a target price of $300.
- An analyst from Goldman Sachs persists with their Buy rating on Arista Networks, maintaining a target price of $356.
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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