Deep-pocketed investors have adopted a bullish approach towards AutoZone AZO, 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 AZO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for AutoZone. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 37% bearish. Among these notable options, 4 are puts, totaling $236,300, and 4 are calls, amounting to $237,995.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2200.0 to $3400.0 for AutoZone over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for AutoZone's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AutoZone's significant trades, within a strike price range of $2200.0 to $3400.0, over the past month.
AutoZone 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AZO | PUT | TRADE | BEARISH | 12/20/24 | $63.5 | $61.2 | $63.5 | $2700.00 | $127.0K | 3 | 0 |
| AZO | CALL | TRADE | BEARISH | 12/20/24 | $65.0 | $57.5 | $57.5 | $3400.00 | $86.2K | 15 | 0 |
| AZO | CALL | TRADE | BULLISH | 01/17/25 | $815.0 | $806.1 | $815.0 | $2200.00 | $81.5K | 6 | 0 |
| AZO | PUT | TRADE | BEARISH | 07/19/24 | $101.0 | $88.2 | $101.0 | $3050.00 | $50.5K | 9 | 0 |
| AZO | CALL | TRADE | NEUTRAL | 09/20/24 | $373.7 | $358.5 | $366.7 | $2660.00 | $36.6K | 4 | 0 |
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 more than 100 in Brazil.
Following our analysis of the options activities associated with AutoZone, we pivot to a closer look at the company's own performance.
Present Market Standing of AutoZone
- Currently trading with a volume of 47,595, the AZO's price is down by -1.64%, now at $2936.41.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 84 days.
Expert Opinions on AutoZone
In the last month, 1 experts released ratings on this stock with an average target price of $3278.0.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on AutoZone with a target price of $3278.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest AutoZone options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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