Investors with a lot of money to spend have taken a bearish stance on Accenture ACN.
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 ACN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Accenture.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 55%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,300, and 8, calls, for a total amount of $307,896.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $310.0 to $340.0 for Accenture over the last 3 months.
Volume & Open Interest Trends
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 Accenture'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 Accenture's whale trades within a strike price range from $310.0 to $340.0 in the last 30 days.
Accenture 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ACN | CALL | SWEEP | NEUTRAL | 07/26/24 | $25.7 | $23.1 | $24.4 | $310.00 | $62.7K | 105 | 27 |
| ACN | CALL | SWEEP | BULLISH | 08/02/24 | $2.35 | $2.2 | $2.35 | $340.00 | $47.6K | 69 | 216 |
| ACN | CALL | SWEEP | BULLISH | 08/16/24 | $5.9 | $5.5 | $5.9 | $335.00 | $39.5K | 1.2K | 299 |
| ACN | CALL | SWEEP | BEARISH | 08/02/24 | $2.05 | $1.95 | $1.95 | $340.00 | $39.1K | 69 | 416 |
| ACN | CALL | TRADE | BEARISH | 09/20/24 | $26.0 | $25.4 | $25.62 | $315.00 | $38.4K | 770 | 41 |
About Accenture
Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration. The company provides its IT offerings to a variety of sectors, including communications, media and technology, financial services, health and public services, consumer products, and resources. Accenture employs just under 500,000 people throughout 200 cities in 51 countries.
Following our analysis of the options activities associated with Accenture, we pivot to a closer look at the company's own performance.
Current Position of Accenture
- Trading volume stands at 1,413,013, with ACN's price up by 1.29%, positioned at $332.91.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 63 days.
Expert Opinions on Accenture
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $350.0.
- Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Equal-Weight with a new price target of $300.
- An analyst from UBS upgraded its action to Buy with a price target of $400.
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 Accenture with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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