Investors with significant funds have taken a bearish position in AutoZone AZO, 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 AZO usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for AutoZone. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 33% being bullish and 55% bearish. Of all the options we discovered, 8 are puts, valued at $386,330, and there was a single call, worth $37,600.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3150.0 and $3300.0 for AutoZone, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for AutoZone'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 AutoZone's whale activity within a strike price range from $3150.0 to $3300.0 in the last 30 days.
AutoZone Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AZO | PUT | SWEEP | BEARISH | 09/20/24 | $106.7 | $103.2 | $106.7 | $3250.00 | $106.7K | 33 | 10 |
| AZO | PUT | SWEEP | BULLISH | 09/20/24 | $62.2 | $55.8 | $55.8 | $3150.00 | $66.9K | 172 | 8 |
| AZO | PUT | TRADE | BULLISH | 10/18/24 | $119.1 | $117.0 | $117.0 | $3200.00 | $46.8K | 11 | 5 |
| AZO | PUT | SWEEP | BEARISH | 09/20/24 | $54.1 | $54.1 | $54.1 | $3150.00 | $43.2K | 172 | 45 |
| AZO | CALL | SWEEP | BULLISH | 09/20/24 | $47.0 | $46.0 | $47.0 | $3250.00 | $37.6K | 20 | 4 |
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.
Following our analysis of the options activities associated with AutoZone, we pivot to a closer look at the company's own performance.
Present Market Standing of AutoZone
- With a trading volume of 21,478, the price of AZO is down by -0.66%, reaching $3181.2.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 26 days from now.
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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