Financial giants have made a conspicuous bullish move on Arista Networks. Our analysis of options history for Arista Networks ANET revealed 13 unusual trades.
Delving into the details, we found 53% of traders were bullish, while 46% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $70,179, and 11 were calls, valued at $524,834.
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 $260.0 to $320.0 for Arista Networks over the last 3 months.
Insights into 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 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 $260.0 to $320.0 over the preceding 30 days.
Arista Networks Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | BEARISH | 05/17/24 | $24.3 | $24.1 | $24.1 | $290.00 | $101.2K | 385 | 88 |
| ANET | CALL | SWEEP | BULLISH | 06/21/24 | $16.3 | $16.2 | $16.3 | $320.00 | $76.6K | 1.2K | 84 |
| ANET | CALL | SWEEP | BULLISH | 06/21/24 | $16.1 | $16.0 | $16.1 | $320.00 | $57.9K | 1.2K | 37 |
| ANET | CALL | TRADE | BEARISH | 05/17/24 | $23.7 | $23.5 | $23.5 | $290.00 | $47.0K | 385 | 30 |
| ANET | CALL | TRADE | BULLISH | 06/21/24 | $21.5 | $21.2 | $21.5 | $300.00 | $43.0K | 550 | 20 |
About Arista Networks
Arista Networks Inc 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.
Current Position of Arista Networks
- Currently trading with a volume of 556,983, the ANET's price is up by 0.73%, now at $290.88.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 24 days.
What Analysts Are Saying About Arista Networks
In the last month, 2 experts released ratings on this stock with an average target price of $328.0.
- An analyst from Goldman Sachs persists with their Buy rating on Arista Networks, maintaining a target price of $356.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Arista Networks, which currently sits at a price target of $300.
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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