Investors with a lot of money to spend have taken a bearish stance on Intuit INTU.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with INTU, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Intuit.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,400, and 10, calls, for a total amount of $898,637.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $650.0 and $725.0 for Intuit, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Intuit options trades today is 87.4 with a total volume of 2,910.00.
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 $650.0 to $725.0 over the last 30 days.
Intuit Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BEARISH | 04/19/24 | $725.00 | $363.6K | 0 | 2.3K |
| INTU | CALL | SWEEP | BEARISH | 04/26/24 | $660.00 | $100.7K | 0 | 100 |
| INTU | CALL | SWEEP | BEARISH | 04/26/24 | $660.00 | $100.1K | 0 | 50 |
| INTU | CALL | SWEEP | BULLISH | 05/03/24 | $660.00 | $60.0K | 0 | 26 |
| INTU | CALL | SWEEP | BEARISH | 04/19/24 | $725.00 | $52.1K | 0 | 298 |
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.
Following our analysis of the options activities associated with Intuit, we pivot to a closer look at the company's own performance.
Intuit's Current Market Status
- With a trading volume of 657,396, the price of INTU is up by 1.99%, reaching $652.35.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 61 days from now.
Expert Opinions on Intuit
In the last month, 5 experts released ratings on this stock with an average target price of $731.0.
- An analyst from Mizuho has decided to maintain their Buy rating on Intuit, which currently sits at a price target of $725.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Intuit with a target price of $725.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Intuit with a target price of $750.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Intuit, targeting a price of $710.
- An analyst from Barclays persists with their Overweight rating on Intuit, maintaining a target price of $745.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Intuit options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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