Cisco Systems Unusual Options Activity For November 23

Someone with a lot of money to spend has taken a bullish stance on Cisco Systems CSCO.

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 CSCO, 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 21 uncommon options trades for Cisco Systems.

This isn’t normal.

The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $217,515, and 18 are calls, for a total amount of $1,479,754.

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 $52.5 for Cisco Systems 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 Cisco Systems’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 Cisco Systems’s whale trades within a strike price range from $45.0 to $52.5 in the last 30 days.

Cisco Systems Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CSCO CALL TRADE BULLISH 12/02/22 $45.00 $597.3K 2.4K 1.5K
CSCO CALL SWEEP BEARISH 12/16/22 $50.00 $148.6K 32.8K 3.3K
CSCO PUT TRADE BULLISH 01/19/24 $47.50 $146.9K 2.9K 334
CSCO CALL SWEEP BEARISH 06/16/23 $47.50 $76.1K 5.5K 162
CSCO CALL SWEEP BULLISH 12/02/22 $48.50 $64.8K 1.8K 1.5K

Where Is Cisco Systems Standing Right Now?

  • With a volume of 5,867,738, the price of CSCO is up 0.29% at $48.52.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 84 days.

What The Experts Say On Cisco Systems:

  • Deutsche Bank has decided to maintain their Hold rating on Cisco Systems, which currently sits at a price target of $52.
  • Credit Suisse has decided to maintain their Outperform rating on Cisco Systems, which currently sits at a price target of $67.
  • Cowen & Co. has decided to maintain their Outperform rating on Cisco Systems, which currently sits at a price target of $61.
  • Rosenblatt has decided to maintain their Neutral rating on Cisco Systems, which currently sits at a price target of $51.

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 Cisco Systems, Benzinga Pro gives you real-time options trades alerts.