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Whales with a lot of money to spend have taken a noticeably bullish stance on Verizon Communications.
Looking at options history for Verizon Communications (NYSE:VZ) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $142,839 and 9, calls, for a total amount of $382,553.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $39.0 to $47.0 for Verizon Communications over the recent three months.
In today's trading context, the average open interest for options of Verizon Communications stands at 11646.6, with a total volume reaching 6,919.00. 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 $39.0 to $47.0, throughout the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| VZ | CALL | TRADE | BULLISH | 01/17/25 | $42.00 | $67.5K | 15.9K | 338 |
| VZ | CALL | SWEEP | NEUTRAL | 04/19/24 | $39.00 | $58.1K | 9.1K | 620 |
| VZ | PUT | SWEEP | BULLISH | 06/21/24 | $40.00 | $53.6K | 6.5K | 276 |
| VZ | CALL | TRADE | BULLISH | 01/17/25 | $42.00 | $44.6K | 15.9K | 838 |
| VZ | CALL | TRADE | BEARISH | 01/17/25 | $42.00 | $44.0K | 15.9K | 1.0K |
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 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.
In the last month, 1 experts released ratings on this stock with an average target price of $39.0.
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.
Posted In: VZ
