High-rolling investors have positioned themselves bullish on O'Reilly Automotive ORLY, 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 ORLY often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for O'Reilly Automotive. This is not a typical pattern.
The sentiment among these major traders is split, with 53% bullish and 46% bearish. Among all the options we identified, there was one put, amounting to $74,000, and 12 calls, totaling $467,252.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $690.0 to $1050.0 for O'Reilly Automotive over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of O'Reilly Automotive stands at 63.0, with a total volume reaching 78.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in O'Reilly Automotive, situated within the strike price corridor from $690.0 to $1050.0, throughout the last 30 days.
O'Reilly Automotive Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ORLY | PUT | TRADE | BULLISH | 12/20/24 | $1000.00 | $74.0K | 0 | 0 |
| ORLY | CALL | TRADE | NEUTRAL | 03/15/24 | $980.00 | $51.0K | 170 | 23 |
| ORLY | CALL | TRADE | BULLISH | 04/19/24 | $1050.00 | $45.9K | 14 | 0 |
| ORLY | CALL | TRADE | BEARISH | 03/15/24 | $1000.00 | $44.2K | 175 | 6 |
| ORLY | CALL | TRADE | BULLISH | 03/15/24 | $980.00 | $42.8K | 170 | 11 |
About O'Reilly Automotive
O'Reilly is an aftermarket automotive parts retailer in the United States and Mexico with nearly $16 billion in annual sales. The company operates over 6,000 domestic stores and serves both the do-it-yourself (about 55% of sales) and professional (45% of sales) end markets. Despite operating amid a highly fragmented industry, O'Reilly differentiates itself by providing quality service to its customers throughout the entirety of the vehicle diagnosis and purchasing process. Furthermore, the firm boasts an impressive hub-and-spoke distribution network designed to provide its localized store base with ample aftermarket product availability across various vehicle makes and models.
Having examined the options trading patterns of O'Reilly Automotive, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
O'Reilly Automotive's Current Market Status
- Currently trading with a volume of 101,818, the ORLY's price is down by 0.0%, now at $1081.75.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 56 days.
Expert Opinions on O'Reilly Automotive
5 market experts have recently issued ratings for this stock, with a consensus target price of $1139.4.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on O'Reilly Automotive, which currently sits at a price target of $1170.
- An analyst from Truist Securities persists with their Buy rating on O'Reilly Automotive, maintaining a target price of $1149.
- Consistent in their evaluation, an analyst from Wedbush keeps a Neutral rating on O'Reilly Automotive with a target price of $1100.
- An analyst from RBC Capital persists with their Outperform rating on O'Reilly Automotive, maintaining a target price of $1078.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for O'Reilly Automotive, targeting a price of $1200.
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 O'Reilly Automotive, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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