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 20% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $98,312 and 7, calls, for a total amount of $394,231.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $240.0 to $350.0 for Arista Networks during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Arista Networks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Arista Networks's substantial trades, within a strike price spectrum from $240.0 to $350.0 over the preceding 30 days.
Arista Networks Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | NEUTRAL | 05/17/24 | $30.3 | $29.1 | $29.59 | $280.00 | $118.3K | 906 | 46 |
| ANET | CALL | SWEEP | BEARISH | 05/24/24 | $7.6 | $7.5 | $7.5 | $310.00 | $75.0K | 387 | 149 |
| ANET | CALL | SWEEP | BEARISH | 05/24/24 | $7.8 | $7.6 | $7.64 | $310.00 | $61.0K | 387 | 279 |
| ANET | CALL | TRADE | BEARISH | 06/21/24 | $9.7 | $9.4 | $9.5 | $320.00 | $38.0K | 1.3K | 9 |
| ANET | CALL | TRADE | BEARISH | 09/20/24 | $36.9 | $36.5 | $36.5 | $300.00 | $36.5K | 171 | 3 |
About Arista Networks
Arista Networks 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
Current Position of Arista Networks
- With a volume of 972,523, the price of ANET is up 0.07% at $310.08.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 76 days.
Expert Opinions on Arista Networks
In the last month, 5 experts released ratings on this stock with an average target price of $313.4.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Arista Networks, targeting a price of $340.
- In a positive move, an analyst from Jefferies has upgraded their rating to Buy and adjusted the price target to $320.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $320.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Arista Networks, targeting a price of $302.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Arista Networks with a target price of $285.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
