This Is What Whales Are Betting On Intuit

Investors with a lot of money to spend have taken a bullish stance on Intuit INTU.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with INTU, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Intuit.

This isn't normal.

The overall sentiment of these big-money traders is split between 64% bullish and 35%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $69,950, and 12 are calls, for a total amount of $517,692.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $470.0 to $820.0 for Intuit during the past quarter.

Analyzing Volume & Open Interest

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 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 activity within a strike price range from $470.0 to $820.0 in the last 30 days.

Intuit 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Having examined the options trading patterns of Intuit, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Intuit's Current Market Status

• With a volume of 544,780, the price of INTU is down 0.0% at $608.54.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 66 days.

Expert Opinions on Intuit

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $590.2.

• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Intuit with a target price of $651.
• An analyst from JP Morgan persists with their Neutral rating on Intuit, maintaining a target price of $470.
• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Intuit, targeting a price of $600.
• Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Intuit with a target price of $660.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Intuit, targeting a price of $570.

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.