A Closer Look at Verizon Communications's Options Market Dynamics

Verizon Communications Inc. -1.10%

Verizon Communications Inc.

VZ

39.72

-1.10%

Financial giants have made a conspicuous bearish move on Verizon Communications. Our analysis of options history for Verizon Communications (NYSE:VZ) revealed 18 unusual trades.

Delving into the details, we found 44% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $128,855, and 14 were calls, valued at $517,206.

Predicted Price Range

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 $50.0 for Verizon Communications over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Verizon Communications options trades today is 4309.38 with a total volume of 38,347.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Verizon Communications's big money trades within a strike price range of $35.0 to $50.0 over the last 30 days.

Verizon Communications 30-Day Option Volume & Interest Snapshot

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
VZ CALL SWEEP BEARISH 07/19/24 $35.00 $88.3K 448 256
VZ CALL SWEEP BEARISH 01/05/24 $35.00 $81.0K 500 301
VZ PUT SWEEP NEUTRAL 12/29/23 $37.50 $41.0K 6.7K 5.4K
VZ PUT SWEEP BULLISH 01/16/26 $50.00 $34.8K 154 32
VZ CALL TRADE BEARISH 06/21/24 $38.00 $34.0K 10.3K 707

About Verizon Communications

Verizon Communications is primarily a wireless business (it provides about 70% of service revenue and nearly all operating income). It serves about 92 million postpaid and 22 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest U.S. wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 25 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 volume of 10,119,538, the price of VZ is down -0.4% at $37.16.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 26 days.

What Analysts Are Saying About Verizon Communications

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $41.666666666666664.

  • In a cautious move, an analyst from Oppenheimer downgraded its rating to Outperform, setting a price target of $43.
  • An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Verizon Communications, which currently sits at a price target of $40.
  • An analyst from Citigroup has decided to maintain their Buy rating on Verizon Communications, which currently sits at a price target of $42.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Verizon Communications options trades with real-time alerts from Benzinga Pro.

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