Investors with a lot of money to spend have taken a bullish stance on Advance Auto Parts AAP.
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 AAP, 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 9 uncommon options trades for Advance Auto Parts.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $190,499, and 4 are calls, for a total amount of $204,618.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $42.5 to $60.0 for Advance Auto Parts during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Advance Auto Parts's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Advance Auto Parts's substantial trades, within a strike price spectrum from $42.5 to $60.0 over the preceding 30 days.
Advance Auto Parts Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AAP | CALL | SWEEP | BEARISH | 02/21/25 | $8.0 | $7.9 | $7.9 | $42.50 | $106.6K | 0 | 136 |
| AAP | PUT | SWEEP | BULLISH | 09/20/24 | $13.9 | $13.8 | $13.8 | $60.00 | $46.9K | 366 | 34 |
| AAP | PUT | SWEEP | BULLISH | 12/20/24 | $4.1 | $4.05 | $4.05 | $45.00 | $42.5K | 165 | 96 |
| AAP | PUT | SWEEP | BEARISH | 12/20/24 | $4.0 | $3.95 | $4.0 | $45.00 | $42.0K | 165 | 274 |
| AAP | CALL | SWEEP | BEARISH | 01/17/25 | $3.2 | $3.15 | $3.15 | $52.50 | $38.4K | 386 | 134 |
About Advance Auto Parts
Advance Auto Parts is a leading auto parts retailer in North America with more than 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.
Having examined the options trading patterns of Advance Auto Parts, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Advance Auto Parts's Current Market Status
- With a trading volume of 1,770,140, the price of AAP is up by 0.19%, reaching $46.73.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 76 days from now.
What Analysts Are Saying About Advance Auto Parts
In the last month, 5 experts released ratings on this stock with an average target price of $54.2.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Advance Auto Parts, targeting a price of $55.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Advance Auto Parts with a target price of $60.
- An analyst from Truist Securities persists with their Hold rating on Advance Auto Parts, maintaining a target price of $46.
- Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Advance Auto Parts with a target price of $45.
- An analyst from Wedbush downgraded its action to Neutral with a price target of $65.
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 Advance Auto Parts, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
