What Are Whales Doing With AutoZone

What Are Whales Doing With AutoZone

Someone with a lot of money to spend has taken a bearish stance on AutoZone AZO.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with AZO, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 19 uncommon options trades for AutoZone.

This isn't normal.

The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $262,970, and 13 are calls, for a total amount of $435,431.

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 $2100.0 to $2370.0 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 $2100.0 to $2370.0 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 SWEEP BULLISH 01/20/23 $2300.00 $65.2K 37 12
AZO PUT SWEEP BULLISH 01/20/23 $2300.00 $48.9K 37 9
AZO CALL TRADE BEARISH 10/28/22 $2210.00 $48.8K 4 0
AZO CALL TRADE NEUTRAL 10/28/22 $2235.00 $41.3K 0 0
AZO CALL TRADE BULLISH 11/04/22 $2260.00 $40.1K 0 15

Where Is AutoZone Standing Right Now?

  • With a volume of 78,580, the price of AZO is up 1.87% at $2275.29.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 56 days.

What The Experts Say On AutoZone:

  • Argus Research has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $2330.
  • Truist Securities has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $2292.
  • UBS has decided to maintain their Neutral rating on AutoZone, which currently sits at a price target of $2260.
  • Wedbush has decided to maintain their Outperform rating on AutoZone, which currently sits at a price target of $2350.
  • Citigroup has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $2520.

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