Investors with a lot of money to spend have taken a bullish stance on Intuit INTU.
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 INTU, 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 14 uncommon options trades for Intuit.
This isn't normal.
The overall sentiment of these big-money traders is split between 71% bullish and 28%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $559,427, and 7 are calls, for a total amount of $913,484.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $480.0 and $710.0 for Intuit, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Intuit stands at 177.58, with a total volume reaching 717.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Intuit, situated within the strike price corridor from $480.0 to $710.0, throughout the last 30 days.
Intuit 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BULLISH | 09/20/24 | $12.0 | $11.7 | $11.7 | $700.00 | $397.8K | 536 | 352 |
| INTU | PUT | TRADE | BULLISH | 01/16/26 | $74.8 | $72.2 | $73.2 | $650.00 | $366.0K | 129 | 50 |
| INTU | CALL | SWEEP | BULLISH | 12/20/24 | $36.9 | $36.7 | $36.9 | $700.00 | $206.6K | 245 | 56 |
| INTU | CALL | TRADE | BEARISH | 09/20/24 | $52.1 | $51.8 | $51.8 | $630.00 | $181.3K | 355 | 35 |
| INTU | PUT | SWEEP | BEARISH | 08/23/24 | $6.8 | $6.4 | $6.73 | $640.00 | $61.1K | 270 | 105 |
About Intuit
Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte). Founded in the mid-1980s, Intuit controls the majority of US market share for small-business accounting and do-it-yourself tax-filing software.
Intuit's Current Market Status
- With a volume of 453,072, the price of INTU is up 0.58% at $667.12.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 2 days.
Expert Opinions on Intuit
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $721.0.
- An analyst from Susquehanna has decided to maintain their Positive rating on Intuit, which currently sits at a price target of $757.
- Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Equal-Weight with a new price target of $685.
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 Intuit with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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