Investors with a lot of money to spend have taken a bullish stance on Cisco Systems CSCO.
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 CSCO, 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 16 uncommon options trades for Cisco Systems.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 18%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $441,186, and 8 are calls, for a total amount of $407,866.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $52.5 for Cisco Systems over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Cisco Systems's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cisco Systems's significant trades, within a strike price range of $30.0 to $52.5, over the past month.
Cisco Systems 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CSCO | CALL | SWEEP | BEARISH | 05/17/24 | $0.67 | $0.63 | $0.63 | $50.00 | $95.5K | 32.0K | 710 |
| CSCO | PUT | SWEEP | BULLISH | 01/16/26 | $7.5 | $7.05 | $7.1 | $52.50 | $90.3K | 542 | 360 |
| CSCO | PUT | SWEEP | BULLISH | 01/16/26 | $2.88 | $2.87 | $2.87 | $42.50 | $71.7K | 3.2K | 273 |
| CSCO | CALL | SWEEP | BULLISH | 01/16/26 | $4.2 | $4.1 | $4.2 | $52.50 | $66.7K | 660 | 0 |
| CSCO | PUT | SWEEP | BULLISH | 01/16/26 | $7.5 | $7.1 | $7.1 | $52.50 | $56.8K | 542 | 360 |
About Cisco Systems
Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world. Its largest businesses are selling networking hardware and software (where it has leading market shares) and cybersecurity software like firewalls. It also has collaboration products, like its Webex suite, and observability tools. It primarily outsources its manufacturing to third parties and has a large sales and marketing staff—25,000 strong across 90 countries. Overall, Cisco employees 80,000 employees and sells its products globally.
After a thorough review of the options trading surrounding Cisco Systems, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Cisco Systems Standing Right Now?
- Currently trading with a volume of 8,033,591, the CSCO's price is up by 0.5%, now at $48.03.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 5 days.
What Analysts Are Saying About Cisco Systems
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $55.0.
- An analyst from B of A Securities has elevated its stance to Buy, setting a new price target at $60.
- An analyst from Citigroup has revised its rating downward to Neutral, adjusting the price target to $52.
- Reflecting concerns, an analyst from JP Morgan lowers its rating to Neutral with a new price target of $53.
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 Cisco Systems with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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