Financial giants have made a conspicuous bearish move on Advance Auto Parts. Our analysis of options history for Advance Auto Parts AAP revealed 8 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $347,083, and 4 were calls, valued at $156,265.
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What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $75.0 for Advance Auto Parts during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Advance Auto Parts stands at 673.75, with a total volume reaching 488.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Advance Auto Parts, situated within the strike price corridor from $50.0 to $75.0, throughout the last 30 days.
Advance Auto Parts Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AAP | PUT | SWEEP | BULLISH | 06/21/24 | $65.00 | $113.0K | 956 | 100 |
| AAP | PUT | TRADE | BEARISH | 01/17/25 | $60.00 | $106.9K | 1.5K | 0 |
| AAP | PUT | SWEEP | BEARISH | 06/21/24 | $60.00 | $83.3K | 524 | 116 |
| AAP | CALL | SWEEP | BEARISH | 06/21/24 | $75.00 | $45.5K | 564 | 100 |
| AAP | PUT | SWEEP | BEARISH | 03/15/24 | $50.00 | $43.8K | 599 | 201 |
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
- Currently trading with a volume of 982,306, the AAP's price is down by -0.33%, now at $60.8.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 54 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 Advance Auto Parts, Benzinga Pro gives you real-time options trades alerts.
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