Investors with significant funds have taken a bearish position in Accenture ACN, 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 ACN usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 14 options transactions for Accenture. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 28% being bullish and 50% bearish. Of all the options we discovered, 13 are puts, valued at $762,603, and there was a single call, worth $35,460.
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 $200.0 and $335.0 for Accenture, spanning the last three months.
Analyzing Volume & Open Interest
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 $200.0 to $335.0 in the last 30 days.
Accenture 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ACN | PUT | SWEEP | BULLISH | 10/18/24 | $17.2 | $17.1 | $17.13 | $335.00 | $169.3K | 70 | 104 |
| ACN | PUT | SWEEP | BULLISH | 10/18/24 | $17.6 | $17.5 | $17.52 | $335.00 | $91.0K | 70 | 358 |
| ACN | PUT | SWEEP | BEARISH | 10/18/24 | $17.9 | $17.7 | $17.78 | $335.00 | $67.5K | 70 | 613 |
| ACN | PUT | SWEEP | BEARISH | 10/18/24 | $17.8 | $17.7 | $17.78 | $335.00 | $56.9K | 70 | 483 |
| ACN | PUT | SWEEP | BULLISH | 10/18/24 | $17.6 | $17.5 | $17.52 | $335.00 | $56.0K | 70 | 376 |
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.
Accenture's Current Market Status
- Trading volume stands at 1,495,277, with ACN's price down by -0.67%, positioned at $327.9.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 62 days.
What Analysts Are Saying About Accenture
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $400.0.
- In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $400.
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 Accenture 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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