Notable Friday Option Activity: RIOT, CPF, ANET

Options in Central Pacific Financial (CPF) and Arista Networks (ANET) showed unusually large activity today: CPF traded 677 contracts (≈67,700 underlying shares), about 48.9% of its one‑month average daily volume, led by 337 contracts in the $30 call expiring Dec. 19, 2025 (≈33,700 shares); ANET saw 40,016 contracts (≈4.0m shares), roughly 48.8% of its one‑month ADTV, driven by 10,480 contracts in the $105 put expiring Jan. 30, 2026 (≈1.0m shares). These concentrations at specific strikes and expirations suggest sizeable directional or hedging bets that could generate meaningful options‑driven flow and potential price pressure in the underlying equities.

Analysis

Central Pacific Financial Corp (CPF) options traded 677 contracts today, representing roughly 67,700 underlying shares or about 48.9% of CPF’s one‑month average daily volume of 138,395 shares; the most active contract was the $30 call expiring December 19, 2025 (337 contracts, ~33,700 shares). This concentration at a single out‑of‑the‑money call strike suggests a sizeable bullish directional or hedging position positioned into late‑2025 expiries and could drive order flow if positions are being established.

Arista Networks (ANET) saw 40,016 option contracts trade (≈4.0 million underlying shares), about 48.8% of its one‑month ADTV of 8.2 million shares, with a large block in the $105 put expiring January 30, 2026 (10,480 contracts, ~1.0 million shares). The scale and put‑heavy concentration indicate material bearish positioning or protective hedging that could exert near‑term directional pressure or lift implied volatility if positions are being opened.

Because both tickers’ option volumes equal roughly half of recent ADTV, these trades have outsized potential to affect underlying liquidity and short‑term price moves; the per‑ticker sentiment outputs align (CPF mildly positive, ANET negative) and the overall market‑impact score is moderate (0.28). Key unknowns—whether trades are openings or closings and whether they are part of multi‑leg strategies—mean investors should monitor changes in open interest, implied volatility, and underlying price action before adjusting directional exposure.

Key Decisions for Investors

• Monitor changes in options open interest and implied volatility for CPF and ANET to determine if today's volumes reflect new positions or position liquidations,
• For ANET, consider hedging or reducing net long exposure near term given the large $105 put flow indicating material bearish bets,
• For CPF, evaluate adding targeted upside exposure or selling near‑dated premium only after confirming that call flow represents new bullish positioning rather than roll/hedge activity,