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Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga’s ETF Unlocked

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Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga&#39;s ETF Unlocked

<a href="https://www.cms.gov/newsroom/press-releases/cms-statement-collaboration-doge" title="https://www.cms.gov/newsroom/press-releases/cms-statement-collaboration-doge">https://www.cms.gov/newsroom/press-releases/cms-statement-collaboration-doge</a>

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CMS On Collaboration With Doge: Taking Thoughtful Approach To See Where To Use Resources Efficiently

On paper, Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) should rank among the <a href="https://www.benzinga.com/topic/semiconductor">top semiconductor specialists</a>. 
While it's not directly tied to artificial intelligence, the Chandler, Arizona-based company plays a powerful supporting role in AI applications. Fundamentally, the company specializes in microcontrollers, analog chips and field-programmable gate arrays (FPGAs) that are essential for embedded AI systems. Encompassing relevancies include industrial automation, automotive AI and the Internet of Things (IoT).
Despite the broader importance, Microchip has struggled where it matters most for investors — in the charts. Over the past 52 weeks, Microchip&#8217;s stock has declined by more than 38%. Unfortunately, several challenges have impacted confidence in the business. 
For example, last year, management announced <a href="https://www.benzinga.com/government/regulations/24/12/42344223/struggling-chipmaker-microchip-hits-pause-on-biden-semiconductor-subsidy">restructuring plans</a>, which included the closing of its Tempe, Arizona wafer fabrication facility. It also <a href="https://www.benzinga.com/news/guidance/24/12/42291157/microchip-slashes-q3-revenue-guidance-issues-restructuring-plan">slashed revenue guidance</a> for the December 2024 quarter.
However, big data juggernaut Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) demonstrated that ominous clouds don't necessarily spell disaster. When China's DeepSeek R1 sparked a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43239042/magnificent-seven-broadcom-lose-nearly-900-billion-in-value-as-deepseek-sparks-ai-carnage-why-this-expert-is-still-bullish-on-us-tech">seismic shift</a> on Wall Street, several AI-related names cooled off. However, Palantir's blistering fourth-quarter earnings report righted the ship. Arguably, it's not so much the individual metrics that matter but rather the confirmation that the <a href="https://www.benzinga.com/news/earnings/earnings-beats/25/02/43468342/palantir-rockets-on-strong-q4-2024-was-only-a-dress-rehearsal-for-ai-growth-says-analyst">AI story is far from over</a>.
If so, demand for AI applications should continue marching higher, potentially placing Microchip back in the driver's seat. This backdrop sets up an exciting (albeit extremely risky) trade just ahead of the company's <a href="https://www.benzinga.com/quote/MCHP/earnings">earnings report</a>, scheduled for Feb. 6 after the bell.
<h2 class="wp-block-heading">Statistical Trends Offer an Enticing Signal</h2>
To be blunt, from a visual standpoint, it's difficult to have any confidence that Microchip&#8217;s stock will rise. Over the past six months, the equity has been mired in a downward trend channel, losing over 28% in the process. Nevertheless, statistical trends may favor a speculative bullish posture.
To be 100% clear, Microchip&#8217;s stock is a high-risk, high-reward idea: there's no other way to describe it. When viewing pricing data over the past five years stochastically (as in, devoid of any context aside from the temporal), MCHP demonstrates a neutral to slightly negative bias.
For example, a position entered at the beginning of the week has a 50% chance of rising by the end of it. Over a four-week span, the long odds dip ever so slightly to 49.81%. At the end of the four weeks, positive outcomes feature a median return of 7.52% while negative outcomes carry a median loss of 5.73%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05144753/MCHP-stock-probability-gambit-1024x576.jpg" alt="" class="wp-image-767875" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05144753/MCHP-stock-probability-gambit-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05144753/MCHP-stock-probability-gambit-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05144753/MCHP-stock-probability-gambit-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05144753/MCHP-stock-probability-gambit.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
However, human emotions dictate the market and certain events may spark more aggressive responses. For example, last week, Microchip stock declined by 6.06%, which is more than twice the median loss of 2.95% for negative-performing weeks. As it turns out, based on past five-year trends, there's an 84% chance that whenever MCHP declines between 5% and 10% during a one-week period, the subsequent week will land in the black.
It&#8217;s best to take these long odds with a grain of salt since it could be a happy anomaly. However, these dynamically calculated odds show that over the next four weeks following the aforementioned extreme-fear event, investors demonstrate a tendency to buy the dip. 
Specifically, long odds from the subsequent second week through the fourth-week clock in at over 63%.
<h2 class="wp-block-heading">Rolling the Dice Ahead of Earnings</h2>
On the eve of Microchip's earnings report, its implied volatility is sky-high. Stated differently, the market expects significant movement, which is not surprising. Ordinarily, a long iron condor might be prudent. However, because the market makers anticipate a big move, the available condors aren't very attractive.
It's like running a play out of the shotgun formation: the defense knows what's coming next.
Instead, the most aggressive speculators may consider bull call spreads that expire this Friday. It's difficult to identify just one trade as the selection varies depending on individual risk tolerance. That said, the 52/54 bull spread — which involves buying the $52 call and simultaneously selling the $54 call — is tempting.
For a cash outlay of $105, the trader could generate a maximum reward of $95 or a payout of 90.48%. Plus, the breakeven threshold at time of writing comes in at only $53.05. That's a very realistic upside target relative to the current market price.
Looking further out, speculators may want to consider the 52.50/56.50 bull spread for the options chain expiring Feb. 21. Statistical trends suggest that Microchip's volatility curve trends upward in the third subsequent week following an extreme-fear event. This dynamic may put the aforementioned spread in play as a risky but realistic proposition.
Now Read:
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<li><a href="https://www.benzinga.com/25/02/43507132/stocks-rebound-google-eyes-worst-drop-in-a-year-gold-shatters-fresh-records-whats-driving-markets-wednesday">Stocks Rebound, Google Eyes Worst Drop In A Year, Gold Shatters Fresh Records: What&#8217;s Driving Markets Wednesday?</a></li>
</ul>
 Image: Shutterstock

Earnings

Long Ideas

Options

MCHP

NVDA

PLTR

Options Corner: Microchip Offers A High-Risk Wager Just Ahead Of Earnings

Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) shares trading lower on Wednesday after the company reported mixed 2024 fiscal-year fourth-quarter earnings on Tuesday <a href="https://www.benzinga.com//node/43479897">after the market closed</a>.
What To Know: Chipotle reported quarterly sales of $2.845 billion, missing analysts estimate of $2.847 billion, but representing a 13.1% year-over-year growth. In addition, the company reported adjusted earnings per share of 25 cents, beating analysts estimate of 24 cents.
Furthermore, Chipotle reported a 5.4% increase in comparable restaurant sales and reported an operating margin of 14.6%. Restaurant-level operating margin decreased from 25.4% for the same period last year to 24.8%.
The company said that during the fourth quarter it opened 119 new restaurants, 95 of which included a Chipotlane. Additionally, the company repurchased $331.3 million worth of stock at an average price of $59.83 throughout the fourth quarter.
&#8220;Chipotle had another outstanding year, delivering strong transaction-driven comps each quarter, expanding margins, adding over 300 new restaurants, gaining momentum in key industry leading brand metrics, making progress on many restaurant operating initiatives and building our footprint internationally,&#8221; said Scott Boatwright, CEO, Chipotle.
Analyst Changes: Following the earnings report, several analysts issued <a href="https://www.benzinga.com/quote/CMG/analyst-ratings">price target adjustments</a>.
<ul>
<li>Stifel analyst Chris O&#8217;Cull maintained a Buy rating on Chipotle and lowered the price target from&nbsp;$70&nbsp;to&nbsp;$68.</li>
<li>Piper Sandler analyst Brian Mullan maintained a Neutral rating on Chipotle and lowered the price target from&nbsp;$60&nbsp;to&nbsp;$59.</li>
<li>Wells Fargo analyst Zachary Fadem maintained an Overweight rating on Chipotle and lowered the price target from&nbsp;$75&nbsp;to&nbsp;$70.</li>
<li>Citigroup analyst Jon Tower maintained a Buy rating on Chipotle and raised the price target from&nbsp;$69&nbsp;to&nbsp;$70.</li>
<li>Keybanc analyst Eric Gonzalez maintained an Overweight rating on Chipotle and lowered the price target from&nbsp;$66&nbsp;to&nbsp;$64.</li>
</ul>
Related Link: <a href="https://www.benzinga.com/insights/short-sellers/25/02/43504967/looking-into-cdws-recent-short-interest">Looking Into CDW&#8217;s Recent Short Interest</a>
CMG Price Action: At the time of writing, Chipotle shares are trading 2.51% lower at $57.54, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Courtesy of Chipotle

Movers

What's Going On With Chipotle Shares Wednesday?

Macro Economic Events

WIIM

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SPDR Dow Jones Industrial Average ETF Trust

Major indexes are higher amid strength in NVIDIA, which rose following Alphabet's capex guidance.

Forever 21 Weighs Repeat Bankruptcy Filing

ARCC

Ares Capital shares are trading lower after the company reported Q4 financial results and missed its adjusted EPS and sales estimate.

Whales with a lot of money to spend have taken a noticeably bearish stance on Fortinet.
Looking at options history for Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $350,223 and 8, calls, for a total amount of $749,987.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $115.0 for Fortinet, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Fortinet options trades today is 485.77 with a total volume of 2,351.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Fortinet's big money trades within a strike price range of $90.0 to $115.0 over the last 30 days.
<h3>Fortinet Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738786533_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/14/25</td>
<td>$5.25</td>
<td>$5.2</td>
<td>$5.2</td>
<td>$105.00</td>
<td>$231.8K</td>
<td align="right">260</td>
<td align="right">511</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$4.8</td>
<td>$4.7</td>
<td>$4.8</td>
<td>$105.00</td>
<td>$213.9K</td>
<td align="right">370</td>
<td align="right">496</td>
</tr>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$8.4</td>
<td>$8.0</td>
<td>$8.35</td>
<td>$90.00</td>
<td>$208.7K</td>
<td align="right">321</td>
<td align="right">251</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$10.1</td>
<td>$9.9</td>
<td>$10.05</td>
<td>$95.00</td>
<td>$125.6K</td>
<td align="right">98</td>
<td align="right">125</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$9.05</td>
<td>$9.0</td>
<td>$9.05</td>
<td>$97.50</td>
<td>$54.3K</td>
<td align="right">917</td>
<td align="right">64</td>
</tr>
</tbody>
</table>

<h3>About Fortinet</h3>
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
Following our analysis of the options activities associated with Fortinet, we pivot to a closer look at the company's own performance.
<h3>Fortinet's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 2,468,532, the FTNT's price is up by 1.3%, now at $104.12. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 1 days.</li>
</ul>
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. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
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 Fortinet with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Markets

FTNT

This Is What Whales Are Betting On Fortinet

Deep-pocketed investors have adopted a bearish approach towards e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ELF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for e.l.f. Beauty. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 28% leaning bullish and 64% bearish. Among these notable options, 8 are puts, totaling $440,726, and 6 are calls, amounting to $238,418.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $145.0 for e.l.f. Beauty during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of e.l.f. Beauty stands at 171.67, with a total volume reaching 1,074.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in e.l.f. Beauty, situated within the strike price corridor from $70.0 to $145.0, throughout the last 30 days.
<h3>e.l.f. Beauty 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738786528_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ELF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$15.85</td>
<td>$15.55</td>
<td>$15.79</td>
<td>$95.00</td>
<td>$116.8K</td>
<td align="right">170</td>
<td align="right">80</td>
</tr>
<tr>
<td>ELF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>02/14/25</td>
<td>$6.1</td>
<td>$5.1</td>
<td>$5.6</td>
<td>$86.00</td>
<td>$112.0K</td>
<td align="right">12</td>
<td align="right">0</td>
</tr>
<tr>
<td>ELF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$39.85</td>
<td>$39.0</td>
<td>$39.0</td>
<td>$70.00</td>
<td>$78.0K</td>
<td align="right">17</td>
<td align="right">20</td>
</tr>
<tr>
<td>ELF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$11.45</td>
<td>$11.1</td>
<td>$11.1</td>
<td>$95.00</td>
<td>$57.7K</td>
<td align="right">767</td>
<td align="right">123</td>
</tr>
<tr>
<td>ELF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/17/25</td>
<td>$45.2</td>
<td>$43.7</td>
<td>$44.7</td>
<td>$125.00</td>
<td>$44.7K</td>
<td align="right">43</td>
<td align="right">10</td>
</tr>
</tbody>
</table>

<h3>About e.l.f. Beauty</h3>
e.l.f. Beauty Inc is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty-free cosmetics and skin care products. The Company's mission is to make the best of beauty accessible to every eye, lip, face, and skin concern. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out sales within the US and internationally, out of which maximum revenue is generated from the US.
In light of the recent options history for e.l.f. Beauty, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is e.l.f. Beauty Standing Right Now?</h3>
<ul>
<li>With a volume of 2,381,881, the price of ELF is down -1.24% at $87.34. </li>
<li>RSI indicators hint that the underlying stock may be oversold.</li>
<li>Next earnings are expected to be released in 1 days.</li>
</ul>
<h3>Professional Analyst Ratings for e.l.f. Beauty</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $147.8.
Turn $1000 into $1270 in just 20 days?
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. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $131. 
&#x2A; Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for e.l.f. Beauty, targeting a price of $105. 
&#x2A; An analyst from JP Morgan has decided to maintain their Overweight rating on e.l.f. Beauty, which currently sits at a price target of $163. 
&#x2A; An analyst from DA Davidson persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $170. 
&#x2A; Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price of $170. 
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 e.l.f. Beauty with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Unpacking the Latest Options Trading Trends in e.l.f. Beauty

Financial giants have made a conspicuous bearish move on Arista Networks. Our analysis of options history for Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) revealed 24 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $452,220, and 19 were calls, valued at $998,938.
<h3>What's The Price Target?</h3>
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 $160.0 for Arista Networks over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
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 $55.0 to $160.0 over the preceding 30 days.
<h3>Arista Networks Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738786523_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ANET</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$20.9</td>
<td>$20.7</td>
<td>$20.9</td>
<td>$127.50</td>
<td>$179.7K</td>
<td>100</td>
<td align="right">86</td>
</tr>
<tr>
<td>ANET</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$10.5</td>
<td>$10.3</td>
<td>$10.5</td>
<td>$110.00</td>
<td>$107.1K</td>
<td>2.6K</td>
<td align="right">207</td>
</tr>
<tr>
<td>ANET</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$38.3</td>
<td>$38.0</td>
<td>$38.0</td>
<td>$80.00</td>
<td>$98.8K</td>
<td>1.6K</td>
<td align="right">55</td>
</tr>
<tr>
<td>ANET</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$14.7</td>
<td>$14.6</td>
<td>$14.7</td>
<td>$115.00</td>
<td>$79.3K</td>
<td>2.0K</td>
<td align="right">239</td>
</tr>
<tr>
<td>ANET</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$14.5</td>
<td>$14.3</td>
<td>$14.35</td>
<td>$115.00</td>
<td>$71.8K</td>
<td>2.0K</td>
<td align="right">179</td>
</tr>
</tbody>
</table>

<h3>About Arista Networks</h3>
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.
<h3>Arista Networks's Current Market Status</h3>
<ul>
<li>With a trading volume of 4,076,522, the price of ANET is up by 3.02%, reaching $115.71.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 13 days from now.</li>
</ul>
<h3>Expert Opinions on Arista Networks</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $132.5.
Turn $1000 into $1270 in just 20 days?
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. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Arista Networks, targeting a price of $135. 
&#x2A; Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Arista Networks with a target price of $130. 
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 Arista Networks with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

ANET

Check Out What Whales Are Doing With ANET

Cryptocurrency markets are trading lower on Wednesday as MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) announced a change of name to Strategy.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td> $97,374.66</td>
<td>-1.8%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$2,776.99&nbsp;&nbsp;</td>
<td>+0.06%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>&nbsp;$199.65</td>
<td>-4.5%</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>&nbsp;$2.44</td>
<td>-6.8%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>&nbsp;$0.2593</td>
<td>-2.7%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00001598&nbsp;</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume decreasing by 14.87% and daily active addresses falling by 8.5%. Transactions greater than $100,000 are down from 14,810 to 11,229 in a single day. Exchanges netflows are up by 29,715.2%.</li>
<li>Coinglass data reports 112,529 traders were liquidated in the past 24 hours for $286.19 million.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43500853/is-the-sec-making-peace-with-crypto-the-key-personnel-shifts-hinting-at-why-this-may-be-the-case">Is The SEC &#8216;Making Peace&#8217; With Crypto? The Key Personnel Shifts Hinting At Why This May Be The Case</a></li>
<li><a href="https://www.benzinga.com/25/02/43493995/bullish-global-backed-by-peter-thiel-mulls-over-ipo-in-2025-amid-crypto-market-boom">Peter Thiel-Backed Crypto Exchange Reportedly Plans IPO In 2025 Amid Bitcoin And Digital Currency Boom</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43504042/blackrock-to-launch-bitcoin-investment-product-in-europe">BlackRock To Launch Bitcoin Investment Product In Europe</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43492011/exclusive-crypto-czar-charm-offensive-welcomed-but-experts-wonder-will-us-policy-deliver">EXCLUSIVE: &#8216;Crypto Czar&#8217; Charm Offensive Welcomed, But Experts Wonder: Will US Policy Deliver?</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43499020/michael-saylor-hints-at-ig-strategy-day-as-chances-of-bitcoin-reserve-odds-on-kalshi-fall">Michael Saylor Hints At &#8216;₿ig Strategy Day&#8217; As Chances Of Bitcoin Reserve Odds On Kalshi Fall</a></li>
</ul>
Top Losers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Jito (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JTO</a>)</td>
<td> $2.67</td>
<td>-16.6%</td>
</tr>
<tr>
<td>Raydium (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RAY</a>)</td>
<td> $5.50</td>
<td>-13.3%</td>
</tr>
<tr>
<td>Virtuals Protocol (CRYPTO: VIRTUAL)</td>
<td> $1.36</td>
<td>-13%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices dropping, crypto trader Altcoin Sherpa noted that Bitcoin is reversing its way back to recent lows. 
If those levels hold, it&#8217;s a bullish signal, making the next dip a good buying opportunity. 
The pattern is recurring sharp drop, V-shaped recovery, then a slow grind back down.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Looks like we&#39;re well on our way for us tapping the lows again for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> (or getting close to it). If we hold these lows (or around there), it&#39;s bullish. You&#39;ll want to buy the next dip down imo. you&#39;ll notice the exact same pattern for all of these though: strong move down, V… <a href="https://t.co/PffdxVylDY">https://t.co/PffdxVylDY</a> <a href="https://t.co/EbiaNIy6p0">pic.twitter.com/EbiaNIy6p0</a>
&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1887190906757124386?ref_src=twsrc%5Etfw">February 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trader Ansem <a href="https://x.com/blknoiz06/status/1887178428081639872">believes</a> Bitcoin still has a target of $1 million. Jelle compared the pullback to similar ones in the past that resulted in eventual uptrends.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another pullback, same story. Send it higher.<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/dyyYQjxoBV">pic.twitter.com/dyyYQjxoBV</a>
&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1887130898321084643?ref_src=twsrc%5Etfw">February 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Industry expert Quinten Francois sees the current market sentiment similar to that at $30,000. He <a href="https://x.com/QuintenFrancois/status/1887198273443684584">believes</a> a correction to $80,000 is possible.         
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43505966/bitcoin-struggling-but-perfect-storm-will-take-it-to-500000-ethereum-to-20000-trader-predicts">Bitcoin Struggling But &#8216;Perfect Storm&#8217; Will Take It To $500,000, Ethereum To $20,000, Trader Predicts</a></li>
</ul>
Image: Shutterstock

$BTC

$DOGE

$ETH

$JTO

$RAY

$SHIB

$SOL

$XRP

MSTR

Bitcoin, Ethereum, XRP, Dogecoin Grind Lower As MicroStrategy Announces Rebranding

W.W. Grainger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) has outperformed the market over the past 5 years by 15.73% on an annualized basis producing an average annual return of 28.19%. Currently, W.W. Grainger has a market capitalization of $50.72 billion. 
Buying $100 In GWW: If an investor had bought $100 of GWW stock 5 years ago, it would be worth $349.28 today based on a price of $1041.45 for GWW at the time of writing.
<h3>W.W. Grainger's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738786509_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

If You Invested $100 In This Stock 5 Years Ago, You Would Have This Much Today

Essex Property Trust shares are trading higher after the company reported better-than-expected Q4 FFO results.

Omnicom Group shares are trading lower. The company reported Q4 financial results.

<a href="https://komonews.com/news/local/japan-airlines-plane-strikes-parked-delta-aircraft-at-seattle-tacoma-international-airport-crash-plane-travel-accident-news-washington-portland-tokyo-investigation-passenger" title="https://komonews.com/news/local/japan-airlines-plane-strikes-parked-delta-aircraft-at-seattle-tacoma-international-airport-crash-plane-travel-accident-news-washington-portland-tokyo-investigation-passenger">https://komonews.com/news/local/japan-airlines-plane-strikes-parked-delta-aircraft-at-seattle-tacoma-international-airport-crash-plane-travel-accident-news-washington-portland-tokyo-investigation-passenger</a>

JAPSY

Japan Airlines Jet Struck Delta Air Lines Airplane While Taxing at Seattle Airport -- FAA

OKTA

Okta shares are trading higher after the company announced it reduced its workforce by 180 employees.

Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) will be reporting its fourth-quarter earnings on Thursday. Wall Street expects $4.94 in EPS and $13.66 billion in revenues as the company reports<a href="https://www.benzinga.com/calendars/earnings?tickers=LLY" target="_blank" rel="noreferrer noopener"> before market hours</a>.
The stock is up 19.23% over the past year, 8.22% YTD.
Let&#8217;s look at what the charts indicate for Eli Lilly stock and how the stock currently maps against Wall Street estimates.
Read Also: <a href="https://www.benzinga.com/25/02/43459558/novo-nordisk-faces-investor-concerns-over-hybrid-cagrisema-trial-results-for-weight-loss">Novo Nordisk Faces Investor Concerns Over Hybrid CagriSema Trial Results For Weight Loss</a>
<h2 class="wp-block-heading">LLY Stock Strongly Bullish Ahead Of Q4 Earnings</h2>
&nbsp;LLY stock is exhibiting strong bullish momentum, with its share price of $841.78 trading above the five-day, 20-day and 50-day exponential moving averages. This sustained buying pressure suggests continued upside potential. 
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020525&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="626" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05124101/Screenshot-2025-02-05-at-11.02.49-PM.png" alt="" class="wp-image-767704" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05124101/Screenshot-2025-02-05-at-11.02.49-PM.png 626w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05124101/Screenshot-2025-02-05-at-11.02.49-PM-300x235.png 300w" sizes="(max-width: 626px) 100vw, 626px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020525&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
LLY stock also remains above key short- and medium-term simple moving averages, further reinforcing the bullish trend.
LLY stock has also crossed over its 200-day simple moving average of $841.52. The stock has broken the resistance level and signals bullish momentum being set for the long term. The Moving Average Convergence Divergence indicator at 12.09 supports the bullish outlook, while the Relative Strength Index at 64.87 signals that the stock is approaching overbought territory but still has room for further gains. 
Investors should monitor any new resistance level being created to assess the extent to which they can expect the bullish trend to extend further.
<h2 class="wp-block-heading">Eli Lilly Analysts See 27% Upside</h2>
Ratings &amp; Consensus Estimates:<a href="https://www.benzinga.com/quote/LLY/analyst-ratings" target="_blank" rel="noreferrer noopener"> The consensus analyst rating</a> on Eli Lilly stock stands at a Buy with a price target of $955.21. The latest analyst ratings from Truist Securities, Wells Fargo and Citigroup imply a 26.97% upside for LLY stock, with an average price target of $1066.
LLY Stock Price Action: Eli Lilly stock was up 1.9% at $842.30 at the time of publication Wednesday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/01/43403416/is-big-pharma-about-to-win-goldman-sachs-weighs-in-on-340b-and-medicaid-shifts">Is Big Pharma About To Win? Goldman Sachs Weighs In On 340B And Medicaid Shifts</a></li>
</ul>
Photo: Shutterstock

Health Care

Technicals

Previews

Eli Lilly Bulls Take Charge Ahead Of Q4 — Can It Reach $1000?

Nvidia shares are trading higher in sympathy with AMD after reporting better-than-expected Q4 financial results yesterday and Google which raised its FY25 capital expenditure guidance.

VLTO

Veralto shares are trading lower after the company missed its Q4 revenue estimate and issued FY25 adjusted EPS guidance below estimates.

Trading in Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is quiet Wednesday as the stock continues to consolidate. But there is a chance the recent uptrend <a href="https://www.benzinga.com/insights/options/25/02/43441575/what-the-options-market-tells-us-about-netflix">may be about to resume</a>.
The price action in the stock may be creating a classic ‘Flag Pattern'. It has bullish implications and suggests that the shares may move higher. This is why it is our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
Technical analysts look for patterns on charts. These patterns form as a result of the price action of a stock.
For example, if the leadership of a market changes from bears to bulls or bulls to bears over an extended period of time, it may appear on a chart as a ‘Rounded Bottom' or a ‘Rounded Top.'
If the leadership changes in a single day, it may form a ‘Reversal Day' pattern. If the change takes place over a few days a ‘V Top' or ‘V Bottom' may show up.
These are reversal patterns.
Read Also: <a href="https://www.benzinga.com/25/02/43503691/uber-stock-is-down-despite-reporting-strongest-quarter-ever-heres-why-investors-are-tapping-the-brakes">Uber Stock Is Down Despite Reporting &#8216;Strongest Quarter Ever&#8217;: Here&#8217;s Why Investors Are Tapping The Brakes</a>
There are also ‘continuation patterns.' These appear when a stock has gotten ahead of itself and is taking a break. When this consolidation is over, the trend will resume.
A classic ‘Flag' continuation pattern seems to be forming on the chart of Netflix. It suggests that a new uptrend may be about to begin.
Sometimes, when there is aggressive buying that pushes a stock higher in a short period of time, some of the traders and investors that are doing the buying get frustrated. They wanted to pay lower prices.
Some think that if they step out of the market for a few days, the price may fall. So, they move to the sidelines hoping they will get a better price.
Because of this, much less volume trades than did during the move higher.
If, after a few days, the price doesn't decline, they jump back into the market and resume their buying. This can push the stock into a new uptrend,
As you can see on the chart below, Netflix seems to be forming a classic flag pattern. It has been consolidating on low volume but hasn't gone lower. A new uptrend may be about to begin.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="552" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05150021/112-1024x552.png" alt="" class="wp-image-767892" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05150021/112-1024x552.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05150021/112-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05150021/112-768x414.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05150021/112.png 1516w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43499292/us-services-growth-slows-in-january-as-tariff-concerns-mount">US Services Growth Slows In January As Tariff Concerns Mount</a></li>
</ul>
Image: Shutterstock

NFLX

Stock Of The Day: Classic 'Flag' Pattern In Netflix Could Mean A Move Higher

American Financial shares are trading lower. The company reported Q4 financial results.

Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Scott Wetherington, CIO of <a href="https://www.adaptiveetfs.com/">Adaptive Investments</a>, participated in the event. Adaptive Investments offers 4 ETFs that are actively managed. The ETFs include the Adaptive Alpha Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGOX#NYSE">AGOX</a>), RH Hedged Multi-Asset Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMAX#NYSE">AMAX</a>), RH Tactical Outlook ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHTX#NYSE">RHTX</a>) and RH Tactical Rotation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHRX#NYSE">RHRX</a>).&nbsp;

Mr Schoffstall, speaking of his fund&rsquo;s strategy, stated, &ldquo;[Precious Minerals] is a part of the market that&rsquo;s been really underappreciated in recent years, I think, and it&#39;s just starting to get its due&hellip;just the last year alone, in the critical minerals space, we&rsquo;ve seen about 1.1 trillion invested on a global scale.&rdquo;

Watch the full interview here:

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" frameborder="0" height="315" src="https://www.youtube.com/embed/0pOjoM1FtWM?start=2560" width="560"></iframe>

Featured photo by<a href="https://unsplash.com/@tprahm?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Tyler Prahm</a> on<a href="https://unsplash.com/s/photos/etf?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Unsplash</a>

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga's ETF Unlocked

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