Looking At Verizon Communications's Recent Unusual Options Activity - Verizon Communications (NYSE:VZ)

Core Insights - Investors are showing a bullish stance on Verizon Communications, with significant options activity indicating potential upcoming movements in the stock [1][2] Options Activity - Benzinga's options scanner identified 10 uncommon options trades for Verizon, with a split sentiment among big-money traders being 50% bullish and 50% bearish [2][3] - The total amount for put options was $162,660, while call options totaled $439,664, suggesting a stronger interest in calls [3] - Whales have targeted a price range from $33.0 to $45.0 for Verizon over the last three months based on volume and open interest [4] Volume & Open Interest - The average open interest for Verizon options is 9,239.67, with total volume reaching 13,044.00, indicating active trading within the specified price range [5] Company Overview - Verizon Communications derives 75% of its total service revenue from wireless services and serves approximately 93 million postpaid and 20 million prepaid customers, making it the largest wireless carrier in the US [10] - The company also has fixed-line telecom operations that reach about 30 million homes and businesses, with 8 million broadband customers [10] - Verizon is set to acquire Frontier Communications in September 2024, which may impact its market position [10] Analyst Insights - A professional analyst has set an average price target of $47.0 for Verizon, with Morgan Stanley maintaining an Equal-Weight rating on the stock [12][13] - Current trading volume stands at 11,985,223, with the stock price at $40.39, reflecting a 1.17% increase [15]