Smart Money Is Betting Big In ANET Options
Portfolio Pulse from Benzinga Insights
Arista Networks (NYSE:ANET) has seen significant options trading activity, with a bullish sentiment from the majority of investors. Analysis of 11 trades shows a preference for puts over calls, with a total investment of $382,526. Whales are targeting a price range of $165 to $300 for ANET, based on volume and open interest metrics. The company, a provider of networking equipment, counts major firms like Microsoft and Meta Platforms among its customers. Currently, ANET's stock is down by -2.12% at $240.87, with an RSI indicating potential oversold conditions. Analysts have mixed views, with target prices ranging from $210 to $315.
April 22, 2024 | 3:31 pm
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POSITIVE IMPACT
Arista Networks has seen a bullish sentiment in options trading, with a focus on puts. The stock is currently down, but analyst ratings suggest a potential rebound with target prices up to $315.
The bullish sentiment in options trading, despite the current dip in stock price, suggests investors are expecting a rebound. This is supported by analyst ratings with high target prices. The significant investment in options trading, especially in puts, indicates a strategic positioning for a price increase. However, the recent downgrade by Rosenblatt to 'Sell' introduces some uncertainty, balanced by JP Morgan and Evercore ISI Group's optimistic targets.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100