Arista Networks Unusual Options Activity

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 42 uncommon options trades for Arista Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 28%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $413,969, and 30 are calls, for a total amount of $1,600,457.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $430.0 for Arista Networks over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Arista Networks's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Arista Networks's significant trades, within a strike price range of $130.0 to $430.0, over the past month.

Arista Networks Option Activity Analysis: Last 30 Days

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.

Present Market Standing of Arista Networks

• With a volume of 2,812,599, the price of ANET is down -5.03% at $392.68.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 23 days.

What The Experts Say On Arista Networks

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $438.3333333333333.

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. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Arista Networks, targeting a price of $460. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Arista Networks with a target price of $430. * An analyst from Evercore ISI Group persists with their Outperform rating on Arista Networks, maintaining a target price of $425.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Arista Networks options trades with real-time alerts from Benzinga Pro.