Check Out What Whales Are Doing With AZO

Investors with a lot of money to spend have taken a bearish stance on AutoZone AZO.

And retail traders should know.

We noticed this today when the trades 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 AZO, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for AutoZone.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 37%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $334,260, and 4 are calls, for a total amount of $168,956.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2700.0 to $3250.0 for AutoZone over the recent three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for AutoZone's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AutoZone's significant trades, within a strike price range of $2700.0 to $3250.0, over the past month.

AutoZone Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Having examined the options trading patterns of AutoZone, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

AutoZone's Current Market Status

• With a trading volume of 44,197, the price of AZO is up by 1.05%, reaching $3202.31.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 32 days from now.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for AutoZone, Benzinga Pro gives you real-time options trades alerts.