Arista Networks Options Trading: A Deep Dive into Market Sentiment

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Whales with a lot of money to spend have taken a noticeably bullish stance on Arista Networks.

Looking at options history for Arista Networks ANET we detected 12 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $123,953 and 8, calls, for a total amount of $552,627.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $420.0 for Arista Networks over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Arista Networks’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Arista Networks’s whale trades within a strike price range from $300.0 to $420.0 in the last 30 days.

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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 09/20/24 $6.5 $6.1 $6.2 $410.00 $186.0K 159 300
ANET CALL TRADE BEARISH 06/21/24 $5.9 $5.8 $5.8 $340.00 $116.0K 995 223
ANET CALL SWEEP BULLISH 05/24/24 $6.2 $6.1 $6.2 $320.00 $98.5K 1.0K 177
ANET CALL SWEEP BULLISH 05/24/24 $6.7 $6.4 $6.6 $320.00 $40.2K 1.0K 350
ANET PUT TRADE BULLISH 07/19/24 $26.5 $26.3 $26.3 $340.00 $34.1K 52 0

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.

Arista Networks’s Current Market Status

  • Trading volume stands at 542,570, with ANET’s price up by 0.46%, positioned at $321.38.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 70 days.

What The Experts Say On Arista Networks

5 market experts have recently issued ratings for this stock, with a consensus target price of $309.4.

  • Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $320.
  • Showing optimism, an analyst from Jefferies upgrades its rating to Buy with a revised price target of $320.
  • Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Arista Networks with a target price of $285.
  • Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Arista Networks, targeting a price of $302.
  • An analyst from Barclays has decided to maintain their Overweight rating on Arista Networks, which currently sits at a price target of $320.

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.

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