This Is What Whales Are Betting On Verizon Communications

Verizon Communications Inc. +0.79% Post

Verizon Communications Inc.

VZ

39.74

39.74

+0.79%

0.00% Post

Investors with a lot of money to spend have taken a bullish stance on Verizon Communications (NYSE:VZ).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with VZ, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Verizon Communications.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 20%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $84,758, and 7 are calls, for a total amount of $657,200.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $42.0 for Verizon Communications over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Verizon Communications's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Verizon Communications's substantial trades, within a strike price spectrum from $25.0 to $42.0 over the preceding 30 days.

Verizon Communications Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
VZ CALL TRADE BULLISH 09/20/24 $1.42 $1.39 $1.42 $42.00 $426.0K 4.4K 3.1K
VZ CALL TRADE BULLISH 01/17/25 $10.95 $9.95 $10.88 $30.00 $54.4K 989 39
VZ CALL SWEEP BULLISH 06/21/24 $1.68 $1.66 $1.68 $40.00 $50.4K 18.7K 432
VZ CALL TRADE BULLISH 07/19/24 $1.84 $1.83 $1.84 $40.00 $36.8K 4.9K 280
VZ PUT SWEEP BEARISH 01/17/25 $3.7 $3.6 $3.7 $42.00 $33.2K 4.9K 90

About Verizon Communications

Wireless services account for about 70% of Verizon Communications' total service revenue and nearly all of its operating income. The firm serves about 93 million postpaid and 21 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest US wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 29 million homes and businesses and serve about 8 million broadband customers. Verizon also provides telecom services nationwide to enterprise customers, often using a mixture of its own and other carriers' networks.

Having examined the options trading patterns of Verizon Communications, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Verizon Communications's Current Market Status

  • With a trading volume of 10,909,077, the price of VZ is up by 1.59%, reaching $40.31.
  • Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
  • Next earnings report is scheduled for 85 days from now.

Expert Opinions on Verizon Communications

4 market experts have recently issued ratings for this stock, with a consensus target price of $44.0.

  • An analyst from Wells Fargo persists with their Equal-Weight rating on Verizon Communications, maintaining a target price of $40.
  • Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Verizon Communications, targeting a price of $48.
  • Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Verizon Communications, targeting a price of $48.
  • Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Verizon Communications with a target price of $40.

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 Verizon Communications with Benzinga Pro for real-time alerts.

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