Decoding AutoZone's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bearish approach towards AutoZone AZO, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AZO usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for AutoZone. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 42% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $155,470, and 9 are calls, amounting to $937,806.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2500.0 to $3650.0 for AutoZone during the past quarter.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for AutoZone's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AutoZone's significant trades, within a strike price range of $2500.0 to $3650.0, over the past month.

AutoZone 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About AutoZone

AutoZone operates as a leading retailer of aftermarket automotive parts in the United States. The firm operates more than 6,400 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 occasionally, installation. The company also operates internationally, with 800 stores in Mexico and more than 100 in Brazil.

AutoZone's Current Market Status

• Trading volume stands at 86,638, with AZO's price up by 0.77%, positioned at $3601.01.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 60 days.

What The Experts Say On AutoZone

In the last month, 5 experts released ratings on this stock with an average target price of $3758.2.

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. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on AutoZone with a target price of $3700. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $3750. * An analyst from DA Davidson persists with their Neutral rating on AutoZone, maintaining a target price of $3500. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for AutoZone, targeting a price of $3841. * Consistent in their evaluation, an analyst from Raymond James keeps a Strong Buy rating on AutoZone with a target price of $4000.

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.