Deep-pocketed investors have adopted a bearish approach towards Accenture ACN, 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 ACN 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 Accenture. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 20% leaning bullish and 80% bearish. Among these notable options, 3 are puts, totaling $298,120, and 7 are calls, amounting to $232,187.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $360.0 to $400.0 for Accenture over the recent three months.
Insights into 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 Accenture'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 Accenture's whale activity within a strike price range from $360.0 to $400.0 in the last 30 days.
Accenture 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ACN | PUT | TRADE | BEARISH | 03/15/24 | $390.00 | $152.9K | 0 | 20 |
| ACN | PUT | TRADE | NEUTRAL | 02/16/24 | $380.00 | $87.2K | 63 | 6 |
| ACN | CALL | TRADE | BULLISH | 01/16/26 | $360.00 | $62.2K | 152 | 0 |
| ACN | PUT | TRADE | BEARISH | 03/15/24 | $390.00 | $58.0K | 0 | 0 |
| ACN | CALL | SWEEP | BULLISH | 01/17/25 | $400.00 | $33.1K | 140 | 37 |
About Accenture
Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration. The company provides its IT offerings to a variety of sectors, including communications, media and technology, financial services, health and public services, consumer products, and resources. Accenture employs just under 500,000 people throughout 200 cities in 51 countries.
Where Is Accenture Standing Right Now?
- Currently trading with a volume of 671,108, the ACN's price is down by -0.92%, now at $364.06.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 37 days.
Expert Opinions on Accenture
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $408.6666666666667.
- An analyst from Mizuho downgraded its action to Buy with a price target of $426.
- An analyst from UBS has decided to maintain their Neutral rating on Accenture, which currently sits at a price target of $400.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Accenture with a target price of $400.
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 Accenture with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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