Deep-pocketed investors have adopted a bearish approach towards Arista Networks ( 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 31 extraordinary options activities for Arista Networks ( ANET ). This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 29% leaning bullish and 41% bearish. Among these notable options, 12 are puts, totaling $1,022,850, and 19 are calls, amounting to $2,283,021.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $38.75 to $135.0 for Arista Networks ( ANET ) 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 ( ANET ) 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 ( ANET ) whale trades within a strike price range from $38.75 to $135.0 in the last 30 days.

Arista Networks Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Arista Networks

Arista Networks ( ANET ) 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.

In light of the recent options history for Arista Networks ( ANET ), it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Arista Networks

Trading volume stands at 10,158,876, with ANET's price down by -0.59%, positioned at $77.48.

RSI indicators show the stock to be may be approaching oversold.

Earnings announcement expected in 36 days.

What The Experts Say On Arista Networks

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $115.0.

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* An analyst from UBS upgraded its action to Buy with a price target of $115.

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 ( ANET ) with Benzinga Pro for real-time alerts.