A whale with a lot of money to spend has taken a noticeably bullish stance on AutoZone.
Looking at options history for AutoZone AZO we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 70% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $504,270 and 5, calls, for a total amount of $384,840.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1760.0 to $2050.0 for AutoZone over the last 3 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 $1760.0 to $2050.0 in the last 30 days.
AutoZone 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 |
|---|---|---|---|---|---|---|---|---|
| AZO | PUT | TRADE | BULLISH | 02/18/22 | $1950.00 | $284.2K | 3 | 4 |
| AZO | CALL | TRADE | BULLISH | 09/16/22 | $2020.00 | $229.5K | 15 | 15 |
| AZO | PUT | TRADE | BULLISH | 03/18/22 | $1790.00 | $92.7K | 39 | 35 |
| AZO | PUT | TRADE | BEARISH | 03/18/22 | $1760.00 | $61.4K | 5 | 0 |
| AZO | CALL | SWEEP | NEUTRAL | 03/18/22 | $2050.00 | $55.4K | 18 | 12 |
Where Is AutoZone Standing Right Now?
- With a volume of 124,572, the price of AZO is up 0.39% at $1947.05.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 18 days.
What The Experts Say On AutoZone:
- Truist Securities downgraded its action to Buy with a price target of $2329
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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