Deep-pocketed investors have adopted a bullish approach towards Cisco Systems (NASDAQ:CSCO), 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 CSCO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Cisco Systems. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 35% bearish. Among these notable options, 2 are puts, totaling $76,500, and 15 are calls, amounting to $1,027,853.
Projected Price Targets
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 $52.5 for Cisco Systems over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cisco Systems's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cisco Systems's substantial trades, within a strike price spectrum from $35.0 to $52.5 over the preceding 30 days.
Cisco Systems Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CSCO | CALL | SWEEP | BULLISH | 07/19/24 | $0.57 | $0.42 | $0.56 | $47.50 | $254.2K | 25.0K | 202 |
| CSCO | CALL | SWEEP | BULLISH | 08/16/24 | $0.88 | $0.87 | $0.87 | $50.00 | $217.5K | 20.7K | 961 |
| CSCO | CALL | SWEEP | BEARISH | 07/19/24 | $1.78 | $1.77 | $1.77 | $46.50 | $74.3K | 13.4K | 1.5K |
| CSCO | CALL | SWEEP | BULLISH | 07/19/24 | $1.9 | $1.6 | $1.91 | $46.50 | $70.6K | 13.4K | 2.3K |
| CSCO | CALL | TRADE | BULLISH | 01/17/25 | $9.2 | $9.15 | $9.2 | $40.00 | $69.0K | 1.1K | 56 |
About Cisco Systems
Cisco Systems is the largest provider of networking equipment in the world and one of the largest software companies in the world. Its largest businesses are selling networking hardware and software (where it has leading market shares) and cybersecurity software like firewalls. It also has collaboration products, like its Webex suite, and observability tools. It primarily outsources its manufacturing to third parties and has a large sales and marketing staff—25,000 strong across 90 countries. Overall, Cisco employees 80,000 employees and sells its products globally.
In light of the recent options history for Cisco Systems, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Cisco Systems
- Currently trading with a volume of 14,576,235, the CSCO's price is up by 2.42%, now at $48.57.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 28 days.
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.