AutoZone Unusual Options Activity

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 15 uncommon options trades for AutoZone.

This isn't normal.

The overall sentiment of these big-money traders is split between 20% bullish and 53%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $464,107, and 5 are calls, for a total amount of $219,793.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2650.0 to $3700.0 for AutoZone over the last 3 months.

Volume & Open Interest Development

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 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 trades within a strike price range from $2650.0 to $3700.0 in the last 30 days.

AutoZone Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

AutoZone's Current Market Status

• Currently trading with a volume of 71,303, the AZO's price is up by 0.73%, now at $3042.63.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 1 days.

Expert Opinions on AutoZone

In the last month, 2 experts released ratings on this stock with an average target price of $3275.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for AutoZone, targeting a price of $3350. * An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $3200.

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.