Arista Networks's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bearish 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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with ANET, 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 17 uncommon options trades for Arista Networks.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 47%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $972,160, and 8 are calls, for a total amount of $656,220.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $122.5 for Arista Networks, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Arista Networks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Arista Networks's substantial trades, within a strike price spectrum from $70.0 to $122.5 over the preceding 30 days.

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.

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

Current Position of Arista Networks

• Currently trading with a volume of 3,380,910, the ANET's price is down by -1.36%, now at $83.93.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 49 days.

Expert Opinions on Arista Networks

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $119.8.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Arista Networks, targeting a price of $112. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Arista Networks with a target price of $125. * An analyst from Barclays persists with their Overweight rating on Arista Networks, maintaining a target price of $126. * An analyst from Citigroup has decided to maintain their Buy rating on Arista Networks, which currently sits at a price target of $121. * In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $115.

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 Arista Networks options trades with real-time alerts from Benzinga Pro.