AutoZone Unusual Options Activity For January 24

Financial giants have made a conspicuous bearish move on AutoZone. Our analysis of options history for AutoZone AZO revealed 10 unusual trades.

Delving into the details, we found 10% of traders were bullish, while 90% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $361,276, and 8 were calls, valued at $508,230.

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Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2300.0 to $3050.0 for AutoZone over the recent three months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for AutoZone'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 AutoZone's whale activity within a strike price range from $2300.0 to $3050.0 in the last 30 days.

AutoZone 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About AutoZone

AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States. The company derives an increasing proportion of its sales from domestic commercial customers, although its presence in its home market is still dominated by its do-it-yourself operation, which accounts for around 70% of sales in country. AutoZone also has a growing presence in Mexico and Brazil. AutoZone had 7,140 stores in the U.S. (6,300), Mexico (740), and Brazil (100) as of the end of fiscal 2023.

Following our analysis of the options activities associated with AutoZone, we pivot to a closer look at the company's own performance.

Where Is AutoZone Standing Right Now?

• Trading volume stands at 59,257, with AZO's price down by 0.0%, positioned at $2768.31.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 34 days.

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