Arista Networks Options Trading: A Deep Dive into Market Sentiment
Deep-pocketed investors have adopted a bearish approach towards Arista Networks (NYSE: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 37 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 29% leaning bullish and 48% bearish. Among these notable options, 14 are puts, totaling $571,421, and 23 are calls, amounting to $875,044.
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 $190.0 and $410.0 for Arista Networks, spanning the last three months.
Volume & Open Interest Development
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 $190.0 to $410.0, over the past month.
Arista Networks Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ANET | PUT | TRADE | BULLISH | 09/20/24 | $23.0 | $22.8 | $22.8 | $330.00 | $93.4K | 452 | 95 |
| ANET | PUT | TRADE | BULLISH | 09/20/24 | $23.0 | $22.8 | $22.8 | $330.00 | $91.2K | 452 | 54 |
| ANET | CALL | TRADE | BULLISH | 11/15/24 | $28.8 | $28.2 | $28.73 | $350.00 | $71.8K | 136 | 70 |
| ANET | CALL | TRADE | NEUTRAL | 12/20/24 | $72.5 | $70.8 | $71.78 | $280.00 | $71.7K | 64 | 10 |
| ANET | CALL | SWEEP | BEARISH | 01/17/25 | $24.0 | $22.9 | $22.9 | $400.00 | $66.4K | 221 | 33 |
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.
Following our analysis of the options activities associated with Arista Networks, we pivot to a closer look at the company's own performance.
Where Is Arista Networks Standing Right Now?
- With a trading volume of 1,723,978, the price of ANET is down by -1.63%, reaching $341.0.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 6 days from now.
What The Experts Say On Arista Networks
5 market experts have recently issued ratings for this stock, with a consensus target price of $381.4.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Arista Networks, targeting a price of $385.
- An analyst from Wells Fargo persists with their Overweight rating on Arista Networks, maintaining a target price of $390.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on Arista Networks with a target price of $345.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Arista Networks, targeting a price of $432.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Arista Networks, which currently sits at a price target of $355.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Arista Networks with Benzinga Pro for real-time alerts.