Market Whales and Their Recent Bets on ANET Options

Investors with a lot of money to spend have taken a bullish stance on Arista Networks ANET.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ANET, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 49 uncommon options trades for Arista Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 38%, bearish.

Out of all of the special options we uncovered, 17 are puts, for a total amount of $831,987, and 32 are calls, for a total amount of $1,174,096.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $185.0 to $380.0 for Arista Networks over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Arista Networks options trades today is 449.62 with a total volume of 4,608.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Arista Networks's big money trades within a strike price range of $185.0 to $380.0 over the last 30 days.

Arista Networks Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

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.

Current Position of Arista Networks

• Trading volume stands at 678,979, with ANET's price up by 2.24%, positioned at $356.48.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 74 days.

Expert Opinions on Arista Networks

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $335.2.

• An analyst from Barclays persists with their Overweight rating on Arista Networks, maintaining a target price of $341.
• Maintaining their stance, an analyst from Rosenblatt continues to hold a Sell rating for Arista Networks, targeting a price of $265.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Arista Networks, targeting a price of $355.
• Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Arista Networks, targeting a price of $340.
• Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $375.

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.