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 30 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 33% leaning bullish and 20% bearish. Among these notable options, 3 are puts, totaling $112,700, and 27 are calls, amounting to $1,767,764.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $230.0 and $450.0 for Arista Networks, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Arista Networks stands at 364.0, with a total volume reaching 1,611.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Arista Networks, situated within the strike price corridor from $230.0 to $450.0, throughout the last 30 days.
Arista Networks Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | BULLISH | 10/25/24 | $17.5 | $16.8 | $17.5 | $375.00 | $175.0K | 213 | 116 |
| ANET | CALL | TRADE | BULLISH | 09/20/24 | $35.0 | $32.7 | $35.0 | $340.00 | $175.0K | 650 | 109 |
| ANET | CALL | TRADE | NEUTRAL | 02/21/25 | $58.7 | $57.4 | $58.0 | $350.00 | $174.0K | 75 | 2 |
| ANET | CALL | TRADE | NEUTRAL | 09/20/24 | $120.8 | $117.4 | $118.83 | $260.00 | $154.4K | 181 | 15 |
| ANET | CALL | SWEEP | BULLISH | 11/15/24 | $10.5 | $10.3 | $10.5 | $430.00 | $105.0K | 97 | 407 |
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.
Following our analysis of the options activities associated with Arista Networks, we pivot to a closer look at the company's own performance.
Current Position of Arista Networks
- With a volume of 1,420,154, the price of ANET is up 5.01% at $379.84.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 39 days.
Professional Analyst Ratings for Arista Networks
In the last month, 2 experts released ratings on this stock with an average target price of $384.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from UBS has decided to maintain their Neutral rating on Arista Networks, which currently sits at a price target of $369. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Arista Networks with a target price of $400.
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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