Whales with a lot of money to spend have taken a noticeably bearish stance on AutoZone.
Looking at options history for AutoZone AZO we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 76% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $125,500 and 10, calls, for a total amount of $490,275.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2300.0 and $3100.0 for AutoZone, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $2300.0 to $3100.0 in the last 30 days.
AutoZone Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AZO | CALL | TRADE | NEUTRAL | 01/17/25 | $2300.00 | $94.5K | 17 | 2 |
| AZO | CALL | TRADE | BEARISH | 01/17/25 | $2300.00 | $93.0K | 17 | 1 |
| AZO | PUT | TRADE | BULLISH | 03/15/24 | $3100.00 | $56.0K | 28 | 18 |
| AZO | CALL | SWEEP | BEARISH | 03/15/24 | $3100.00 | $45.4K | 242 | 25 |
| AZO | PUT | TRADE | NEUTRAL | 06/21/24 | $2990.00 | $42.5K | 1 | 5 |
About AutoZone
AutoZone operates as a leading retailer of aftermarket automotive parts in the United States. The firm operates over 6,300 stores domestically, serving both the do-it-yourself and commercial (do-it-for-me) end markets. Through its vast store footprint and distribution network, AutoZone manages a wide array of stock-keeping units applicable to numerous vehicle makes and models, providing its consumers with ample product availability. The firm drives traffic by providing superior and convenient customer service as AutoZone's team of knowledgeable staff assists consumers with diagnosing a vehicle's problem, selecting the necessary part for replacement, and in some instances, installation. The company also operates internationally, with over 750 stores in Mexico and 100 in Brazil.
After a thorough review of the options trading surrounding AutoZone, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of AutoZone
- Currently trading with a volume of 57,858, the AZO's price is down by 0.0%, now at $3102.86.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 76 days.
Expert Opinions on AutoZone
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $3127.6.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for AutoZone, targeting a price of $3200.
- An analyst from DA Davidson has decided to maintain their Neutral rating on AutoZone, which currently sits at a price target of $3025.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $2950.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for AutoZone, targeting a price of $3100.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on AutoZone with a target price of $3363.
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.
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