Verizon Communications Unusual Options Activity For September 07
Portfolio Pulse from Benzinga Insights
Verizon Communications (NYSE:VZ) has seen unusual options activity, with a significant bearish stance taken by a whale investor. Of the detected trades, 40% were bullish and 60% were bearish. The total amount for puts was $163,470 and for calls was $5,063,565. Whales have been targeting a price range from $27.0 to $47.0 for Verizon over the last 3 months. Citigroup upgraded Verizon to Buy with a price target of $40, while Oppenheimer downgraded it to Outperform with a price target of $43.
September 07, 2023 | 7:19 pm
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Verizon Communications has seen unusual options activity, with a significant bearish stance taken by a whale investor. Citigroup upgraded Verizon to Buy with a price target of $40, while Oppenheimer downgraded it to Outperform with a price target of $43.
The bearish stance taken by a whale investor, who typically has significant influence, could potentially drive the stock price down in the short term. Additionally, the downgrade by Oppenheimer might negatively impact investor sentiment. However, the upgrade by Citigroup could provide some counterbalance.
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