High-rolling investors have positioned themselves bullish on Advance Auto Parts AAP, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AAP often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Advance Auto Parts. This is not a typical pattern.
The sentiment among these major traders is split, with 75% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $299,200, and 7 calls, totaling $308,019.
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 $42.5 to $90.0 for Advance Auto Parts during the past quarter.
Volume & Open Interest Trends
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 $42.5 to $90.0, over the past month.
Advance Auto Parts Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AAP | PUT | TRADE | BULLISH | 03/15/24 | $42.50 | $299.2K | 211 | 8.8K |
| AAP | CALL | SWEEP | BULLISH | 01/17/25 | $50.00 | $92.8K | 648 | 0 |
| AAP | CALL | SWEEP | NEUTRAL | 03/01/24 | $70.00 | $53.7K | 3.2K | 628 |
| AAP | CALL | SWEEP | BULLISH | 03/15/24 | $70.00 | $38.9K | 2.3K | 2.0K |
| AAP | CALL | SWEEP | BULLISH | 03/01/24 | $70.00 | $35.0K | 3.2K | 523 |
About Advance Auto Parts
Advance Auto Parts is one of the industry's largest 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 premier distributor of imported original-equipment parts. Advance derived 59% of its 2022 sales from commercial clients, with the remainder from DIY shoppers.
Having examined the options trading patterns of Advance Auto Parts, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Advance Auto Parts
- With a trading volume of 456,232, the price of AAP is down by -1.65%, reaching $65.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 19 days from now.
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 Advance Auto Parts, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
