Check Out What Whales Are Doing With Verizon Communications

Investors with a lot of money to spend have taken a bearish stance on Verizon Communications VZ.

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 VZ, 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 9 uncommon options trades for Verizon Communications.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $259,000, and 5 are calls, for a total amount of $271,525.

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 $38.0 and $45.0 for Verizon Communications, spanning the last three months.

Volume & Open Interest Trends

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 Verizon Communications'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 Verizon Communications's whale trades within a strike price range from $38.0 to $45.0 in the last 30 days.

Verizon Communications Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Verizon Communications

Wireless services account for about 70% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 93 million postpaid and 20 million prepaid phone customers via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 30 million homes and businesses and serve about 8 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, often using a mixture of its own and other carriers' networks. Verizon agreed to acquire Frontier Communications in September 2024.

Having examined the options trading patterns of Verizon Communications, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Verizon Communications's Current Market Status

• Currently trading with a volume of 5,555,288, the VZ's price is up by 0.38%, now at $43.34.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 54 days.

Expert Opinions on Verizon Communications

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $55.0.

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 Tigress Financial persists with their Buy rating on Verizon Communications, maintaining a target price of $55.

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 Verizon Communications with Benzinga Pro for real-time alerts.