Market Whales and Their Recent Bets on INTU Options

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 9 uncommon options trades for Intuit.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 11%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $153,490, and 6 are calls, for a total amount of $303,860.

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 $610.0 and $690.0 for Intuit, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Intuit options trades today is 112.67 with a total volume of 354.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Intuit's big money trades within a strike price range of $610.0 to $690.0 over the last 30 days.

Intuit Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Intuit

Intuit serves small and midsize businesses with accounting software QuickBooks and online marketing platform Mailchimp. The company also operates retail tax filing tool TurboTax, personal finance platform Credit Karma, and a suite of professional tax offerings for accountants. Founded in the mid-1980s, Intuit enjoys a dominant market share for small business accounting and do-it-yourself tax filing in the US.

After a thorough review of the options trading surrounding Intuit, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Intuit Standing Right Now?

• With a volume of 818,002, the price of INTU is down 0.0% at $600.45.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 62 days.

What Analysts Are Saying About Intuit

In the last month, 5 experts released ratings on this stock with an average target price of $697.0.

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. * An analyst from Citigroup persists with their Buy rating on Intuit, maintaining a target price of $726. * In a positive move, an analyst from JP Morgan has upgraded their rating to Overweight and adjusted the price target to $660. * An analyst from BMO Capital has decided to maintain their Outperform rating on Intuit, which currently sits at a price target of $714. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $785. * An analyst from Scotiabank persists with their Sector Perform rating on Intuit, maintaining a target price of $600.

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 Intuit, Benzinga Pro gives you real-time options trades alerts.