Market Whales and Their Recent Bets on AZO Options

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 positions 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.

Today, Benzinga's options scanner spotted 10 options trades for AutoZone.

This isn't normal.

The overall sentiment of these big-money traders is split between 10% bullish and 60%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $54,900, and 9, calls, for a total amount of $405,700.

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 $2300.0 to $3800.0 for AutoZone during the past quarter.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $2300.0 to $3800.0 in the last 30 days.

AutoZone Option Activity Analysis: Last 30 Days

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.

Having examined the options trading patterns of AutoZone, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

AutoZone's Current Market Status

• With a trading volume of 54,266, the price of AZO is down by 0.0%, reaching $3652.11.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 26 days from now.

What Analysts Are Saying About AutoZone

1 market experts have recently issued ratings for this stock, with a consensus target price of $3811.0.

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. * In a positive move, an analyst from Goldman Sachs has upgraded their rating to Neutral and adjusted the price target to $3811.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest AutoZone options trades with real-time alerts from Benzinga Pro.