Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Benzinga Insights

What Are Whales Doing With Verizon Communications

A whale with a lot of money to spend has taken a noticeably bullish stance on Verizon Communications.

Looking at options history for Verizon Communications (NYSE:VZ) we detected 10 strange 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 50% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $236,618 and 5, calls, for a total amount of $305,460.

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 $35.0 to $55.0 for Verizon Communications over the last 3 months.

Volume & Open Interest Development

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 Verizon Communications'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 Verizon Communications's whale trades within a strike price range from $35.0 to $55.0 in the last 30 days.

Verizon Communications Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
VZ CALL SWEEP BEARISH 01/20/23 $35.00 $130.0K 4.7K 64
VZ PUT SWEEP BEARISH 04/21/23 $42.00 $84.2K 301 138
VZ CALL SWEEP BULLISH 10/21/22 $37.50 $71.1K 4.1K 28.4K
VZ PUT TRADE BEARISH 11/18/22 $35.00 $45.8K 24.4K 307
VZ CALL SWEEP BULLISH 01/17/25 $50.00 $44.3K 1.3K 400

Where Is Verizon Communications Standing Right Now?

  • With a volume of 16,362,572, the price of VZ is down -0.96% at $36.72.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 2 days.

What The Experts Say On Verizon Communications:

  • Oppenheimer upgraded its action to Outperform with a price target of $50
  • Barclays has decided to maintain their Equal-Weight rating on Verizon Communications, which currently sits at a price target of $40.
  • Raymond James has decided to maintain their Outperform rating on Verizon Communications, which currently sits at a price target of $54.
  • Wells Fargo has decided to maintain their Equal-Weight rating on Verizon Communications, which currently sits at a price target of $40.
  • Credit Suisse has decided to maintain their Neutral rating on Verizon Communications, which currently sits at a price target of $47.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Verizon Communications, Benzinga Pro gives you real-time options trades alerts.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.