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 11 uncommon options trades for Intuit.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 18%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $263,262, and 5 are calls, for a total amount of $239,449.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $320.0 to $700.0 for Intuit during the past quarter.
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 Intuit'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 Intuit's whale trades within a strike price range from $320.0 to $700.0 in the last 30 days.
Intuit Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BULLISH | 09/06/24 | $1.1 | $0.55 | $0.88 | $665.00 | $107.2K | 33 | 1.1K |
| INTU | PUT | TRADE | BEARISH | 12/20/24 | $35.1 | $34.2 | $34.77 | $620.00 | $69.5K | 203 | 26 |
| INTU | PUT | TRADE | BULLISH | 01/16/26 | $86.9 | $85.3 | $85.3 | $640.00 | $68.2K | 73 | 8 |
| INTU | CALL | TRADE | NEUTRAL | 01/17/25 | $62.3 | $60.3 | $61.3 | $600.00 | $36.7K | 455 | 0 |
| INTU | PUT | TRADE | BULLISH | 12/18/26 | $93.4 | $90.7 | $90.7 | $610.00 | $36.2K | 0 | 4 |
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.
Where Is Intuit Standing Right Now?
- Trading volume stands at 566,205, with INTU's price down by -0.47%, positioned at $616.94.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 92 days.
Expert Opinions on Intuit
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $770.0.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Intuit with a target price of $757.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Intuit with a target price of $795.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $768.
- An analyst from Barclays has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $740.
- An analyst from Jefferies persists with their Buy rating on Intuit, maintaining a target price of $790.
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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