Investors with a lot of money to spend have taken a bearish stance on Arista Networks ANET.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 17 options trades for Arista Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 29% bullish and 70%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $223,016, and 16, calls, for a total amount of $812,005.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $125.0 to $230.0 for Arista Networks over the recent three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Arista Networks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Arista Networks's substantial trades, within a strike price spectrum from $125.0 to $230.0 over the preceding 30 days.
Arista Networks 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | PUT | SWEEP | BULLISH | 02/16/24 | $200.00 | $223.0K | 148 | 1 |
| ANET | CALL | SWEEP | BULLISH | 12/29/23 | $230.00 | $121.1K | 771 | 1 |
| ANET | CALL | TRADE | NEUTRAL | 12/29/23 | $230.00 | $84.6K | 771 | 1 |
| ANET | CALL | TRADE | BEARISH | 01/19/24 | $125.00 | $62.4K | 303 | 0 |
| ANET | CALL | SWEEP | BULLISH | 12/15/23 | $210.00 | $60.5K | 863 | 26 |
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.
Having examined the options trading patterns of Arista Networks, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Arista Networks
- With a trading volume of 847,969, the price of ANET is up by 0.41%, reaching $230.5.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 60 days from now.
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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