Looking At Arista Networks's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Arista Networks ANET.

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 this is an institution or just a wealthy individual, 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 10 options trades for Arista Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 100% bullish and 0%, bearish.

Out of all of the options we uncovered, 9 are puts, for a total amount of $308,647, and there was 1 call, for a total amount of $37,593.

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 $240.0 to $330.0 for Arista Networks during the past quarter.

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 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 $240.0 to $330.0, over the past month.

Arista Networks 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Arista Networks's Current Market Status

• With a trading volume of 346,156, the price of ANET is down by -2.31%, reaching $345.7.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 70 days from now.

What Analysts Are Saying About Arista Networks

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $365.2.

• Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Arista Networks, targeting a price of $380.
• Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Arista Networks, targeting a price of $340.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Arista Networks, targeting a price of $341.
• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Arista Networks with a target price of $390.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $375.

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.