Benzinga | Dec 9, 2021 09:54PM EST

This Is What Whales Are Betting On Verizon Communications

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

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Verizon Communications.

This isn't normal.

The overall sentiment of these big-money traders is split between 54.55% bullish and 45.45%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $715,886.00, and 5 are calls, for a total amount of $174,095.00.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $55.0 for Verizon Communications over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Verizon Communications's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Verizon Communications's whale trades within a strike price range from $45.0 to $55.0 in the last 30 days.

Verizon Communications Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestVZ PUT SWEEP BULLISH 01/20/ $50.00 $313.2K 14.1K 865 23VZ PUT SWEEP BULLISH 01/21/ $50.00 $213.1K 34.7K 2.5K 22VZ PUT SWEEP BULLISH 06/17/ $50.00 $62.0K 12.8K 204 22VZ PUT TRADE BEARISH 01/20/ $50.00 $50.9K 14.1K 123 23VZ CALL SWEEP BULLISH 01/21/ $50.00 $49.2K 10.9K 1.7K 22

Where Is Verizon Communications Standing Right Now?

* With a volume of 11,451,778.00, the price of VZ is down -0.99% at $49.99.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 47 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.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.