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 9 options trades for Arista Networks.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $283,200, and 8, calls, for a total amount of $486,117.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $290.0 for Arista Networks during the past quarter.
Insights into Volume & Open Interest
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 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 activity within a strike price range from $80.0 to $290.0 in the last 30 days.
Arista Networks Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | PUT | TRADE | BEARISH | 01/17/25 | $200.00 | $283.2K | 173 | 160 |
| ANET | CALL | TRADE | BULLISH | 01/17/25 | $290.00 | $224.4K | 238 | 120 |
| ANET | CALL | TRADE | BULLISH | 01/19/24 | $80.00 | $60.8K | 21 | 4 |
| ANET | CALL | TRADE | BEARISH | 01/17/25 | $260.00 | $54.8K | 518 | 0 |
| ANET | CALL | TRADE | BEARISH | 03/15/24 | $200.00 | $36.6K | 397 | 12 |
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.
Following our analysis of the options activities associated with Arista Networks, we pivot to a closer look at the company's own performance.
Arista Networks's Current Market Status
- Currently trading with a volume of 496,115, the ANET's price is up by 0.93%, now at $231.53.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 39 days.
Expert Opinions on Arista Networks
In the last month, 1 experts released ratings on this stock with an average target price of $272.0.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Arista Networks with a target price of $272.
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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