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 67 uncommon options trades for Arista Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 32%, bearish.
Out of all of the special options we uncovered, 20 are puts, for a total amount of $987,269, and 47 are calls, for a total amount of $3,090,628.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $280.0 to $500.0 for Arista Networks over the recent three months.
Volume & Open Interest Development
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 $280.0 to $500.0 in the last 30 days.
Arista Networks Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | BULLISH | 11/15/24 | $23.4 | $21.3 | $24.1 | $390.00 | $361.5K | 1.3K | 826 |
| ANET | CALL | TRADE | BEARISH | 11/15/24 | $25.6 | $25.0 | $25.0 | $390.00 | $250.0K | 1.3K | 626 |
| ANET | CALL | SWEEP | BULLISH | 01/15/27 | $116.5 | $112.0 | $116.5 | $410.00 | $209.7K | 8 | 36 |
| ANET | CALL | TRADE | BEARISH | 01/17/25 | $14.2 | $13.5 | $13.5 | $440.00 | $135.0K | 223 | 13 |
| ANET | PUT | TRADE | BEARISH | 11/08/24 | $42.5 | $42.2 | $42.5 | $450.00 | $127.5K | 102 | 60 |
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.
Where Is Arista Networks Standing Right Now?
- With a volume of 4,255,635, the price of ANET is down -7.0% at $400.85.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 94 days.
Professional Analyst Ratings for Arista Networks
4 market experts have recently issued ratings for this stock, with a consensus target price of $450.25.
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 Piper Sandler has revised its rating downward to Neutral, adjusting the price target to $421. * An analyst from Wells Fargo persists with their Overweight rating on Arista Networks, maintaining a target price of $460. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Arista Networks, targeting a price of $495. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Arista Networks, targeting a 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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