A whale with a lot of money to spend has taken a noticeably bearish stance on Intuit.
Looking at options history for Intuit INTU we detected 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 76% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $240,212 and 6, calls, for a total amount of $263,230.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $280.0 to $455.0 for Intuit over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Intuit options trades today is 130.57 with a total volume of 408.00.
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 $280.0 to $455.0 over the last 30 days.
Intuit Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BEARISH | 06/02/23 | $412.50 | $60.0K | 20 | 50 |
| INTU | PUT | SWEEP | BEARISH | 07/21/23 | $420.00 | $53.4K | 391 | 59 |
| INTU | CALL | TRADE | BEARISH | 06/02/23 | $420.00 | $50.0K | 79 | 57 |
| INTU | CALL | TRADE | BEARISH | 01/19/24 | $280.00 | $45.6K | 3 | 3 |
| INTU | CALL | TRADE | NEUTRAL | 06/16/23 | $410.00 | $44.6K | 208 | 0 |
Where Is Intuit Standing Right Now?
- With a volume of 1,356,898, the price of INTU is down -0.6% at $415.91.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 84 days.
What The Experts Say On Intuit:
- Morgan Stanley has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $525.
- Citigroup has decided to maintain their Buy rating on Intuit, which currently sits at a price target of $495.
- Credit Suisse downgraded its action to Outperform with a price target of $500
- B of A Securities has decided to maintain their Buy rating on Intuit, which currently sits at a price target of $500.
- BMO Capital has decided to maintain their Outperform rating on Intuit, which currently sits at a price target of $485.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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