A whale with a lot of money to spend has taken a noticeably bearish stance on AutoZone.
Looking at options history for AutoZone AZO we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $378,170 and 3, calls, for a total amount of $156,950.
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 $2300.0 to $2800.0 for AutoZone over the last 3 months.
Volume & Open Interest Development
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 $2800.0 in the last 30 days.
AutoZone 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 |
|---|---|---|---|---|---|---|---|---|
| AZO | PUT | SWEEP | BEARISH | 10/20/23 | $2500.00 | $119.0K | 103 | 19 |
| AZO | CALL | TRADE | BULLISH | 01/19/24 | $2300.00 | $64.0K | 27 | 2 |
| AZO | CALL | TRADE | BULLISH | 12/15/23 | $2800.00 | $61.0K | 36 | 20 |
| AZO | PUT | TRADE | NEUTRAL | 12/15/23 | $2790.00 | $54.3K | 0 | 3 |
| AZO | PUT | SWEEP | BEARISH | 10/20/23 | $2540.00 | $50.7K | 7 | 12 |
Where Is AutoZone Standing Right Now?
- With a volume of 16,244, the price of AZO is up 2.8% at $2544.54.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 76 days.
What The Experts Say On AutoZone:
- Barclays has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $2742.
- Evercore ISI Group has decided to maintain their Outperform rating on AutoZone, which currently sits at a price target of $2670.
- JP Morgan has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $2975.
- Truist Securities has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $3006.
- Morgan Stanley has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $2750.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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