Investors with a lot of money to spend have taken a bullish stance on Arista Networks (NYSE: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 15 uncommon options trades for Arista Networks.
This isn’t normal.
The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $164,760, and 10 are calls, for a total amount of $852,289.
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 $260.0 and $360.0 for Arista Networks, spanning the last three months.
Analyzing Volume & Open Interest
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 $260.0 to $360.0, over the past month.
Arista Networks Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ANET | CALL | TRADE | BULLISH | 01/17/25 | $260.00 | $494.4K | 781 | 3 |
| ANET | CALL | TRADE | BEARISH | 01/16/26 | $360.00 | $87.1K | 64 | 0 |
| ANET | CALL | TRADE | BULLISH | 06/21/24 | $280.00 | $57.2K | 1.0K | 21 |
| ANET | CALL | TRADE | BEARISH | 12/20/24 | $290.00 | $43.3K | 62 | 12 |
| ANET | PUT | TRADE | BULLISH | 04/19/24 | $290.00 | $41.3K | 231 | 26 |
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.
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
Arista Networks’s Current Market Status
- With a volume of 555,322, the price of ANET is up 1.71% at $285.28.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 54 days.
What The Experts Say On Arista Networks
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $307.2.
- An analyst from Goldman Sachs persists with their Buy rating on Arista Networks, maintaining a target price of $313.
- An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $325.
- An analyst from Piper Sandler persists with their Neutral rating on Arista Networks, maintaining a target price of $268.
- An analyst from Needham downgraded its action to Buy with a price target of $320.
- An analyst from Wells Fargo persists with their Overweight rating on Arista Networks, maintaining a target price of $310.
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.
