Arista Networks Unusual Options Activity For October 10

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 37% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $121,050, and 5 are calls, amounting to $288,490.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $270.0 and $410.0 for Arista Networks, spanning the last three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $270.0 to $410.0 in the last 30 days.

Arista Networks Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

Where Is Arista Networks Standing Right Now?

• Currently trading with a volume of 388,866, the ANET's price is up by 0.17%, now at $407.64.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 18 days.

Professional Analyst Ratings for Arista Networks

4 market experts have recently issued ratings for this stock, with a consensus target price of $428.75.

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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. Click here for access. * An analyst from Evercore ISI Group persists with their Outperform rating on Arista Networks, maintaining a target price of $425. * An analyst from Evercore ISI Group persists with their Outperform rating on Arista Networks, maintaining a target price of $400. * An analyst from Citigroup has decided to maintain their Buy rating on Arista Networks, which currently sits at a price target of $460. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Arista Networks, targeting a price of $430.

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