Investors with a lot of money to spend have taken a bullish stance on Advance Auto Parts AAP.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AAP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 13 options trades for Advance Auto Parts.
This isn't normal.
The overall sentiment of these big-money traders is split between 69% bullish and 30%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $51,590, and 12, calls, for a total amount of $464,625.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $95.0 for Advance Auto Parts during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Advance Auto Parts's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Advance Auto Parts's significant trades, within a strike price range of $75.0 to $95.0, over the past month.
Advance Auto Parts Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AAP | CALL | SWEEP | BULLISH | 01/17/25 | $13.0 | $12.9 | $13.0 | $75.00 | $97.5K | 968 | 275 |
| AAP | PUT | TRADE | BULLISH | 01/17/25 | $23.6 | $23.45 | $23.45 | $95.00 | $51.5K | 79 | 0 |
| AAP | CALL | TRADE | BEARISH | 01/17/25 | $13.85 | $13.65 | $13.65 | $75.00 | $34.1K | 968 | 25 |
| AAP | CALL | TRADE | BEARISH | 01/17/25 | $13.85 | $13.6 | $13.6 | $75.00 | $34.0K | 968 | 50 |
| AAP | CALL | TRADE | BULLISH | 01/17/25 | $13.5 | $12.9 | $13.4 | $75.00 | $33.5K | 968 | 250 |
About Advance Auto Parts
Advance Auto Parts is one of the industry's retailers of aftermarket automotive parts, tools, and accessories to do-it-yourself customers and third-party vehicle repair facilities in North America. Advance operated 5,086 stores as of the end of 2022, in addition to servicing 1,311 independently owned Carquest stores. The company's Worldpac chain is a distributor of imported original equipment parts.
In light of the recent options history for Advance Auto Parts, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Advance Auto Parts
- With a trading volume of 123,057, the price of AAP is up by 0.01%, reaching $75.65.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 19 days from now.
What Analysts Are Saying About Advance Auto Parts
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $78.0.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Advance Auto Parts, targeting a price of $78.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Advance Auto Parts with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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