High-rolling investors have positioned themselves bearish on Advance Auto Parts AAP, 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 AAP often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Advance Auto Parts. This is not a typical pattern.
The sentiment among these major traders is split, with 40% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $102,279, and 9 calls, totaling $743,386.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $80.0 for Advance Auto Parts over the recent three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Advance Auto Parts's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Advance Auto Parts's substantial trades, within a strike price spectrum from $70.0 to $80.0 over the preceding 30 days.
Advance Auto Parts Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AAP | CALL | SWEEP | BEARISH | 06/07/24 | $4.1 | $3.8 | $4.05 | $79.00 | $254.7K | 2 | 721 |
| AAP | CALL | SWEEP | BEARISH | 06/07/24 | $4.1 | $4.0 | $4.05 | $79.00 | $136.7K | 2 | 1.3K |
| AAP | CALL | SWEEP | BEARISH | 06/21/24 | $6.55 | $6.5 | $6.5 | $75.00 | $111.2K | 3.2K | 0 |
| AAP | PUT | SWEEP | BEARISH | 06/21/24 | $3.1 | $2.97 | $3.05 | $70.00 | $102.2K | 1.9K | 429 |
| AAP | CALL | SWEEP | BULLISH | 06/07/24 | $4.0 | $3.95 | $4.0 | $79.00 | $70.4K | 2 | 1.7K |
About Advance Auto Parts
Advance Auto Parts is one of the industry's 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 distributor of imported original equipment parts.
In light of the recent options history for Advance Auto Parts, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Advance Auto Parts Standing Right Now?
- With a trading volume of 400,721, the price of AAP is up by 0.12%, reaching $75.73.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 14 days from now.
What The Experts Say On Advance Auto Parts
In the last month, 1 experts released ratings on this stock with an average target price of $78.0.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Advance Auto Parts, targeting a price of $78.
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 Advance Auto Parts with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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