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 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $229,470 and 8, calls, for a total amount of $403,612.
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 $1830.0 to $2750.0 for AutoZone over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for AutoZone options trades today is 7.56 with a total volume of 679.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for AutoZone's big money trades within a strike price range of $1830.0 to $2750.0 over 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 | CALL | TRADE | BEARISH | 11/17/23 | $2750.00 | $137.5K | 11 | 557 |
| AZO | PUT | SWEEP | BEARISH | 11/17/23 | $2260.00 | $72.3K | 0 | 104 |
| AZO | PUT | SWEEP | BULLISH | 11/17/23 | $2250.00 | $67.7K | 11 | 104 |
| AZO | CALL | TRADE | BULLISH | 11/17/23 | $1830.00 | $63.3K | 0 | 1 |
| AZO | CALL | TRADE | BULLISH | 01/17/25 | $2200.00 | $55.0K | 6 | 0 |
Where Is AutoZone Standing Right Now?
- With a volume of 67,982, the price of AZO is down -1.3% at $2456.3.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 43 days.
What The Experts Say On AutoZone:
- Truist Securities has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $2863.
- TD Cowen downgraded its action to Outperform with a price target of $2975
- Oppenheimer downgraded its action to Perform with a price target of $2600
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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