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 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $187,060 and 7, calls, for a total amount of $391,429.
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 $495.0 to $570.0 for Intuit over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Intuit'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 Intuit's whale trades within a strike price range from $495.0 to $570.0 in 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 | BULLISH | 06/21/24 | $530.00 | $146.7K | 36 | 20 |
| INTU | PUT | SWEEP | BULLISH | 04/19/24 | $570.00 | $75.4K | 33 | 14 |
| INTU | CALL | TRADE | BEARISH | 11/17/23 | $540.00 | $55.6K | 259 | 42 |
| INTU | CALL | TRADE | BEARISH | 10/13/23 | $495.00 | $51.4K | 2 | 20 |
| INTU | PUT | SWEEP | BEARISH | 11/17/23 | $570.00 | $51.3K | 17 | 38 |
Where Is Intuit Standing Right Now?
- With a volume of 745,763, the price of INTU is down -0.09% at $541.09.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 47 days.
What The Experts Say On Intuit:
- Wells Fargo has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $575.
- Wolfe Research has decided to maintain their Outperform rating on Intuit, which currently sits at a price target of $660.
- Piper Sandler downgraded its action to Overweight with a price target of $642
- Mizuho has decided to maintain their Buy rating on Intuit, which currently sits at a price target of $600.
- HSBC downgraded its action to Hold with a price target of $520
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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