ANETArista Networks
Options Analysis Report•COMPUTER COMMUNICATIONS EQUIPMENT
Market Cap $206.8B|NYSE
● 2026-04-17$164.23
BULLISH
Analysis: 2026-04-16 EOD data
1Y +142.7%YTD +22.9%7D +11.5%
Options Vol
22,043
30D
Implied Move
±17.4%
IV Rank
28%
ANET Options Overview
IV is elevated with bullish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 90.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.88x — IV ≤ HV
Sector Relative≤50%
Sector percentile 72% — above sector median
Term Structure
<1.1xFront/Back 0.95x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 56.9% — normal range
Spread-Adjusted Value
<80%Effective IV 74.3% (ATM 56.9% + spread 8.7% + bias) — fair
Execution Efficiency
<3.0%Total drag 12.31% (spread 8.72% + slippage 3.59%) — high friction
Vega Efficiency
≥5.0Vega efficiency 22.89 (vega 19.957 / spread 8.72%) — efficient
Sentiment
Bullish or bearish?
7.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +22%, Raw: +22%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +22% (bullish) — Raw: +22%
OI Skew Magnitude
≥15%|OI skew| 9.5% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +48.0%, OI skew +9.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +7%, ATM: +34%, OTM: +21% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 22% — very bullish vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 1.1x avg — normal
Turnover Rate
≥15%Vol/OI 6.9% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +6.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 53% — neutral vs sector
Trade Quality
≥30%Large trade volume 13% — mostly retail
Execution Urgency
≥60%Aggressive execution 30% — patient
Flow Conviction
≥30Conviction +22 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 8.7% — wide
Adequate OI
≥10,000OI 317,632 — deep
Active Volume
≥500Volume 22,043/day — active
Reasonable Cost
≤$0.50$0.44 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 72% — wider than sector
Order Book Depth
≥100 contractsDepth 286.29999999999995 contracts (bid:150.1 ask:136.2) — adequate
Execution Quality
<1.0%Avg slippage 3.59% — poor
Timing
Is now a good time?
7.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -5.3% — contango
IV Percentile Clarity
<30 or >70IV percentile 91% — seller opportunity
Event Detection
≥10pts kinkIV kink -6.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 115.90 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 18d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +22% @ 61% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 43 (ITM 20% + inst 13%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.2
bullishIV fair, bullish flow
Long Puts4.6
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, bullish flow
Covered Call4.4
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.