This Is What Whales Are Betting On AutoZone

A whale with a lot of money to spend has taken a noticeably bearish stance on AutoZone.

Looking at options history for AutoZone AZO we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $263,213 and 6, calls, for a total amount of $439,000.

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 $1400.0 to $2500.0 for AutoZone over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for AutoZone options trades today is 5.38 with a total volume of 95.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for AutoZone's big money trades within a strike price range of $1400.0 to $2500.0 over 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 CALL TRADE BEARISH 01/19/24 $2500.00 $198.5K 0 10
AZO PUT SWEEP BULLISH 07/15/22 $2070.00 $117.3K 10 10
AZO CALL TRADE BULLISH 06/17/22 $1400.00 $61.0K 7 1
AZO PUT TRADE BULLISH 10/21/22 $1900.00 $58.0K 1 5
AZO CALL SWEEP BULLISH 06/24/22 $2100.00 $55.0K 2 73

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
AZO CALL TRADE BEARISH 01/19/24 $2500.00 $198.5K 0 10
AZO PUT SWEEP BULLISH 07/15/22 $2070.00 $117.3K 10 10
AZO CALL TRADE BULLISH 06/17/22 $1400.00 $61.0K 7 1
AZO PUT TRADE BULLISH 10/21/22 $1900.00 $58.0K 1 5
AZO CALL SWEEP BULLISH 06/24/22 $2100.00 $55.0K 2 73

Where Is AutoZone Standing Right Now?

  • With a volume of 201,106, the price of AZO is down -0.5% at $2003.83.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 96 days.

What The Experts Say On AutoZone:

  • Truist Securities has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $2174.
  • DA Davidson has decided to maintain their Neutral rating on AutoZone, which currently sits at a price target of $1920.
  • Stephens & Co. has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $2285.
  • Morgan Stanley upgraded its action to Overweight with a price target of $2420

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.

Posted In: BZI-UOAOptionsMarkets

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