What the Options Market Tells Us About AutoZone

High-rolling investors have positioned themselves bearish on AutoZone AZO, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AZO often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 14 options trades for AutoZone. This is not a typical pattern.

The sentiment among these major traders is split, with 28% bullish and 42% bearish. Among all the options we identified, there was one put, amounting to $27,720, and 13 calls, totaling $572,570.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2600.0 and $3100.0 for AutoZone, spanning the last three months.

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 AutoZone'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 AutoZone's whale activity within a strike price range from $2600.0 to $3100.0 in the last 30 days.

AutoZone Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About AutoZone

AutoZone operates as a leading retailer of aftermarket automotive parts in the United States. The firm operates over 6,300 stores domestically, serving both the do-it-yourself and commercial (do-it-for-me) end markets. Through its vast store footprint and distribution network, AutoZone manages a wide array of stock-keeping units applicable to numerous vehicle makes and models, providing its consumers with ample product availability. The firm drives traffic by providing superior and convenient customer service as AutoZone's team of knowledgeable staff assists consumers with diagnosing a vehicle's problem, selecting the necessary part for replacement, and in some instances, installation. The company also operates internationally, with over 750 stores in Mexico and 100 in Brazil.

In light of the recent options history for AutoZone, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is AutoZone Standing Right Now?

• With a trading volume of 135,497, the price of AZO is down by -1.79%, reaching $2934.99.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 26 days from now.

What The Experts Say On AutoZone

2 market experts have recently issued ratings for this stock, with a consensus target price of $3434.5.

• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on AutoZone with a target price of $3346.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on AutoZone with a target price of $3523.

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.