Deep-pocketed investors have adopted a bullish 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 16 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 56% leaning bullish and 31% bearish. Among these notable options, 3 are puts, totaling $122,890, and 13 are calls, amounting to $1,393,229.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $170.0 to $460.0 for Arista Networks over the recent three months.
Insights into Volume & Open Interest
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 $170.0 to $460.0 in the last 30 days.
Arista Networks Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | BEARISH | 02/21/25 | $50.6 | $49.7 | $49.7 | $340.00 | $745.5K | 8 | 0 |
| ANET | CALL | TRADE | BULLISH | 09/20/24 | $26.4 | $26.0 | $26.26 | $340.00 | $128.6K | 337 | 43 |
| ANET | CALL | TRADE | BULLISH | 09/20/24 | $38.1 | $36.1 | $37.37 | $320.00 | $82.2K | 301 | 0 |
| ANET | CALL | TRADE | BEARISH | 07/19/24 | $37.5 | $36.3 | $36.77 | $300.00 | $73.5K | 799 | 0 |
| ANET | PUT | TRADE | NEUTRAL | 11/15/24 | $110.2 | $106.9 | $108.4 | $440.00 | $54.2K | 0 | 2 |
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.
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 600,082, the price of ANET is up 1.48% at $334.09.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 34 days.
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 Arista Networks with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
