Whales with a lot of money to spend have taken a noticeably bearish stance on Verizon Communications.
Looking at options history for Verizon Communications VZ we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $568,194 and 4, calls, for a total amount of $511,435.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $38.0 to $46.0 for Verizon Communications over the recent three months.
Volume & Open Interest Development
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 Verizon Communications'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 Verizon Communications's whale activity within a strike price range from $38.0 to $46.0 in the last 30 days.
Verizon Communications Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VZ | CALL | SWEEP | BEARISH | 10/18/24 | $4.0 | $3.9 | $3.92 | $38.00 | $390.3K | 1.3K | 1.0K |
| VZ | PUT | SWEEP | BEARISH | 10/18/24 | $5.55 | $5.45 | $5.55 | $46.00 | $166.5K | 348 | 467 |
| VZ | PUT | SWEEP | BEARISH | 10/18/24 | $4.8 | $4.7 | $4.8 | $45.00 | $143.5K | 1.0K | 300 |
| VZ | PUT | SWEEP | BEARISH | 09/20/24 | $4.3 | $4.2 | $4.3 | $45.00 | $86.4K | 545 | 202 |
| VZ | CALL | SWEEP | BULLISH | 07/19/24 | $3.5 | $3.4 | $3.48 | $38.00 | $69.7K | 1.6K | 200 |
About Verizon Communications
Wireless services account for about 70% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 93 million postpaid and 21 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 29 million homes and businesses and serve about 8 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, often using a mixture of its own and other carriers' networks.
After a thorough review of the options trading surrounding Verizon Communications, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Verizon Communications
- With a volume of 7,550,119, the price of VZ is down -0.49% at $40.95.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 50 days.
Professional Analyst Ratings for Verizon Communications
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $52.0.
- An analyst from Tigress Financial has decided to maintain their Buy rating on Verizon Communications, which currently sits at a price target of $52.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Verizon Communications with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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