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 8 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 50% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $236,955, and 6 are calls, amounting to $1,320,460.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $310.0 to $380.0 for Arista Networks over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $310.0 to $380.0 in the last 30 days.
Arista Networks Option Activity Analysis: Last 30 Days
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 | TRADE | BULLISH | 01/17/25 | $23.0 | $22.5 | $23.3 | $380.00 | $1.1M | 208 | 500 |
| ANET | PUT | TRADE | BULLISH | 09/06/24 | $28.9 | $28.1 | $28.22 | $350.00 | $211.6K | 0 | 75 |
| ANET | CALL | TRADE | BULLISH | 09/20/24 | $25.7 | $25.4 | $25.7 | $320.00 | $46.2K | 502 | 18 |
| ANET | CALL | SWEEP | BEARISH | 08/16/24 | $10.8 | $10.7 | $10.7 | $330.00 | $28.8K | 247 | 165 |
| ANET | CALL | TRADE | BULLISH | 10/18/24 | $39.5 | $38.8 | $39.5 | $310.00 | $27.6K | 60 | 11 |
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
Present Market Standing of Arista Networks
- With a trading volume of 812,996, the price of ANET is up by 4.66%, reaching $332.13.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 81 days from now.
What Analysts Are Saying About Arista Networks
In the last month, 5 experts released ratings on this stock with an average target price of $346.0.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Arista Networks, targeting a price of $355.
- An analyst from Jefferies persists with their Buy rating on Arista Networks, maintaining a target price of $380.
- An analyst from Rosenblatt has decided to maintain their Sell rating on Arista Networks, which currently sits at a price target of $265.
- An analyst from JP Morgan persists with their Overweight rating on Arista Networks, maintaining a target price of $340.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Arista Networks, targeting a price of $390.
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.
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