Deep-pocketed investors have adopted a bullish approach towards Arista Networks ANET, 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 ANET usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Arista Networks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 5 are puts, totaling $236,610, and 4 are calls, amounting to $252,135.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $320.0 for Arista Networks during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Arista Networks's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Arista Networks's significant trades, within a strike price range of $140.0 to $320.0, over the past month.
Arista Networks 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | SWEEP | BULLISH | 05/03/24 | $3.2 | $3.1 | $3.2 | $275.00 | $112.9K | 61 | 4 |
| ANET | PUT | SWEEP | BEARISH | 07/19/24 | $67.9 | $66.1 | $67.9 | $320.00 | $101.8K | 44 | 0 |
| ANET | CALL | SWEEP | BEARISH | 05/17/24 | $78.1 | $76.5 | $76.94 | $180.00 | $76.9K | 1 | 0 |
| ANET | PUT | TRADE | BULLISH | 06/20/25 | $20.3 | $17.7 | $17.9 | $200.00 | $46.5K | 540 | 0 |
| ANET | CALL | TRADE | BEARISH | 04/26/24 | $18.3 | $17.3 | $17.6 | $242.50 | $35.2K | 0 | 20 |
About Arista Networks
Arista Networks Inc 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 volume of 388,136, the price of ANET is down -0.74% at $257.34.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 19 days.
What Analysts Are Saying About Arista Networks
4 market experts have recently issued ratings for this stock, with a consensus target price of $295.25.
- An analyst from Goldman Sachs persists with their Buy rating on Arista Networks, maintaining a target price of $356.
- In a cautious move, an analyst from Rosenblatt downgraded its rating to Sell, setting a price target of $210.
- An analyst from Evercore ISI Group persists with their Outperform rating on Arista Networks, maintaining a target price of $300.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Arista Networks, which currently sits at a price target of $315.
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 Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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