Deep-pocketed investors have adopted a bullish approach towards Intuit INTU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in INTU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Intuit. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 2 are puts, totaling $62,509, and 8 are calls, amounting to $283,297.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $370.0 to $740.0 for Intuit over the recent three months.
Volume & Open Interest Trends
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 $370.0 to $740.0 in the last 30 days.
Intuit Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| INTU | CALL | TRADE | NEUTRAL | 09/20/24 | $640.00 | $59.0K | 4 | 0 |
| INTU | CALL | TRADE | BULLISH | 06/21/24 | $620.00 | $56.2K | 115 | 0 |
| INTU | PUT | SWEEP | BULLISH | 06/21/24 | $560.00 | $36.6K | 490 | 24 |
| INTU | CALL | SWEEP | BULLISH | 06/21/24 | $660.00 | $32.8K | 100 | 9 |
| INTU | CALL | SWEEP | BEARISH | 06/21/24 | $740.00 | $28.8K | 43 | 20 |
About Intuit
Intuit is a provider of small-business accounting software (QuickBooks), personal tax solutions (TurboTax), and professional tax offerings (Lacerte). Founded in the mid-1980s, Intuit controls the majority of U.S. market share for small-business accounting and DIY tax-filing software.
Following our analysis of the options activities associated with Intuit, we pivot to a closer look at the company's own performance.
Where Is Intuit Standing Right Now?
- Trading volume stands at 197,069, with INTU's price down by -0.15%, positioned at $623.94.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 57 days.
Professional Analyst Ratings for Intuit
5 market experts have recently issued ratings for this stock, with a consensus target price of $638.4.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Intuit, targeting a price of $615.
- An analyst from Susquehanna downgraded its action to Positive with a price target of $700.
- An analyst from Mizuho persists with their Buy rating on Intuit, maintaining a target price of $625.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $642.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Intuit, which currently sits at a price target of $610.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Intuit with Benzinga Pro for real-time alerts.
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