Behind the Scenes of Verizon Communications's Latest Options Trends

Verizon Communications Inc. -0.47%

Verizon Communications Inc.

VZ

40.06

-0.47%

Deep-pocketed investors have adopted a bearish approach towards Verizon Communications (NYSE:VZ), 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 VZ usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Verizon Communications. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 41% leaning bullish and 58% bearish. Among these notable options, 3 are puts, totaling $192,524, and 9 are calls, amounting to $734,506.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $38.0 for Verizon Communications, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Verizon Communications stands at 7188.55, with a total volume reaching 6,143.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Verizon Communications, situated within the strike price corridor from $20.0 to $38.0, throughout the last 30 days.

Verizon Communications Option Activity Analysis: Last 30 Days

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
VZ CALL TRADE BULLISH 12/01/23 $32.00 $270.7K 648 472
VZ PUT TRADE BULLISH 01/17/25 $30.00 $118.8K 16.0K 1.2K
VZ CALL TRADE BEARISH 06/21/24 $38.00 $108.0K 10.5K 164
VZ CALL TRADE BEARISH 06/21/24 $38.00 $95.0K 10.5K 1.1K
VZ CALL SWEEP BEARISH 01/19/24 $34.00 $66.4K 6.0K 392

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

Current Position of Verizon Communications

  • Trading volume stands at 8,924,084, with VZ's price up by 0.11%, positioned at $37.51.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 55 days.

Expert Opinions on Verizon Communications

In the last month, 1 experts released ratings on this stock with an average target price of $45.0.

  • Consistent in their evaluation, an analyst from Tigress Financial keeps a Buy rating on Verizon Communications with a target price of $45.

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.

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