Check Out What Whales Are Doing With Verizon Communications

Investors with a lot of money to spend have taken a bearish stance on Verizon Communications VZ.

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 VZ, 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 14 uncommon options trades for Verizon Communications.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 57%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $255,484, and 7 are calls, for a total amount of $338,793.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $50.0 for Verizon Communications over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Verizon Communications's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Verizon Communications's substantial trades, within a strike price spectrum from $40.0 to $50.0 over the preceding 30 days.

Verizon Communications Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Verizon Communications

Wireless services account for about 70% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 93 million postpaid and 20 million prepaid phone customers via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 30 million homes and businesses and serve about 8 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, often using a mixture of its own and other carriers' networks. Verizon agreed to acquire Frontier Communications in September 2024.

Following our analysis of the options activities associated with Verizon Communications, we pivot to a closer look at the company's own performance.

Where Is Verizon Communications Standing Right Now?

• Currently trading with a volume of 15,326,192, the VZ's price is down by -7.37%, now at $43.06.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 42 days.

Professional Analyst Ratings for Verizon Communications

1 market experts have recently issued ratings for this stock, with a consensus target price of $48.0.

Turn $1000 into $1270 in just 20 days?

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 Scotiabank has decided to maintain their Sector Perform rating on Verizon Communications, which currently sits at a price target of $48.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Verizon Communications options trades with real-time alerts from Benzinga Pro.