High-rolling investors have positioned themselves bullish on AutoZone AZO, 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 AZO often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for AutoZone. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 12% bearish. Among all the options we identified, there was one put, amounting to $31,200, and 7 calls, totaling $303,575.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2000.0 to $2800.0 for AutoZone during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AutoZone's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AutoZone's substantial trades, within a strike price spectrum from $2000.0 to $2800.0 over the preceding 30 days.
AutoZone Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AZO | CALL | TRADE | NEUTRAL | 01/17/25 | $883.6 | $866.3 | $873.33 | $2000.00 | $87.3K | 8 | 1 |
| AZO | CALL | SWEEP | NEUTRAL | 06/21/24 | $60.0 | $56.1 | $56.1 | $2780.00 | $67.3K | 107 | 27 |
| AZO | CALL | SWEEP | BEARISH | 07/19/24 | $79.7 | $74.0 | $74.0 | $2800.00 | $37.0K | 12 | 0 |
| AZO | CALL | SWEEP | BULLISH | 06/21/24 | $59.0 | $54.6 | $54.6 | $2780.00 | $32.7K | 107 | 11 |
| AZO | PUT | TRADE | BULLISH | 01/17/25 | $23.0 | $19.5 | $19.5 | $2220.00 | $31.2K | 17 | 0 |
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 more than 100 in Brazil.
In light of the recent options history for AutoZone, it's now appropriate to focus on the company itself. We aim to explore its current performance.
AutoZone's Current Market Status
- Currently trading with a volume of 69,573, the AZO's price is down by 0.0%, now at $2764.69.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 102 days.
Professional Analyst Ratings for AutoZone
5 market experts have recently issued ratings for this stock, with a consensus target price of $3208.0.
- Consistent in their evaluation, an analyst from Wolfe Research keeps a Outperform rating on AutoZone with a target price of $3000.
- An analyst from Wedbush persists with their Outperform rating on AutoZone, maintaining a target price of $3200.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for AutoZone, targeting a price of $3340.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on AutoZone with a target price of $3250.
- An analyst from Citigroup persists with their Buy rating on AutoZone, maintaining a target price of $3250.
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 AutoZone with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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