Investors with significant funds have taken a bearish position in Intuit INTU, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in INTU usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 17 options transactions for Intuit. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 17% being bullish and 82% bearish. Of all the options we discovered, 16 are puts, valued at $665,670, and there was a single call, worth $39,200.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $600.0 and $650.0 for Intuit, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Intuit options trades today is 200.0 with a total volume of 1,021.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Intuit's big money trades within a strike price range of $600.0 to $650.0 over the last 30 days.
Intuit 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 |
|---|---|---|---|---|---|---|---|---|
| INTU | PUT | TRADE | BEARISH | 05/17/24 | $630.00 | $68.8K | 20 | 135 |
| INTU | PUT | TRADE | BEARISH | 05/17/24 | $630.00 | $57.3K | 20 | 156 |
| INTU | PUT | TRADE | BEARISH | 05/17/24 | $630.00 | $57.3K | 20 | 98 |
| INTU | PUT | TRADE | BEARISH | 05/17/24 | $630.00 | $53.3K | 20 | 67 |
| INTU | PUT | TRADE | BEARISH | 05/17/24 | $650.00 | $52.0K | 22 | 13 |
About Intuit
Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte). Founded in the mid-1980s, Intuit controls the majority of U.S. market share for small-business accounting and DIY tax-filing software.
In light of the recent options history for Intuit, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Intuit
- Currently trading with a volume of 202,615, the INTU's price is up by 0.82%, now at $660.45.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 68 days.
What Analysts Are Saying About Intuit
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $739.0.
- An analyst from Piper Sandler persists with their Overweight rating on Intuit, maintaining a target price of $750.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $725.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Intuit, targeting a price of $775.
- An analyst from Stifel persists with their Buy rating on Intuit, maintaining a target price of $720.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Intuit, targeting a price of $725.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Intuit with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
