Cisco Systems Unusual Options Activity For October 17

High-rolling investors have positioned themselves bullish on Cisco Systems CSCO, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CSCO often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for Cisco Systems. This is not a typical pattern.

The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $34,750, and 7 calls, totaling $337,996.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $60.0 for Cisco Systems over the last 3 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 Cisco Systems'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 Cisco Systems's whale activity within a strike price range from $55.0 to $60.0 in the last 30 days.

Cisco Systems 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Cisco Systems

Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world. Its largest businesses are selling networking hardware and software (where it has leading market shares) and cybersecurity software such as firewalls. It also has collaboration products, like its Webex suite, and observability tools. It primarily outsources its manufacturing to third parties and has a large sales and marketing staff-25,000 strong across 90 countries. Overall, Cisco employs 80,000 people and sells its products globally.

In light of the recent options history for Cisco Systems, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Cisco Systems

• With a trading volume of 4,465,846, the price of CSCO is up by 0.06%, reaching $56.41.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 27 days from now.

What The Experts Say On Cisco Systems

3 market experts have recently issued ratings for this stock, with a consensus target price of $66.66666666666667.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Cisco Systems, which currently sits at a price target of $60. * An analyst from Tigress Financial has decided to maintain their Buy rating on Cisco Systems, which currently sits at a price target of $78. * An analyst from Citigroup upgraded its action to Buy with a price target of $62.

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 Cisco Systems with Benzinga Pro for real-time alerts.