Investors with a lot of money to spend have taken a bearish 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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with INTU, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Intuit.
This isn't normal.
The overall sentiment of these big-money traders is split between 0% bullish and 100%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $502,660, and there was 1 call, for a total amount of $48,200.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $600.0 to $630.0 for Intuit over the recent three 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 Intuit's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Intuit's significant trades, within a strike price range of $600.0 to $630.0, over the past month.
Intuit Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTU | PUT | TRADE | BEARISH | 01/17/25 | $52.8 | $51.7 | $52.8 | $630.00 | $168.9K | 174 | 97 |
| INTU | PUT | TRADE | BEARISH | 01/17/25 | $52.2 | $51.6 | $52.2 | $630.00 | $73.0K | 174 | 54 |
| INTU | PUT | TRADE | BEARISH | 01/17/25 | $52.5 | $51.9 | $52.5 | $630.00 | $57.7K | 174 | 65 |
| INTU | CALL | SWEEP | BEARISH | 09/20/24 | $49.0 | $48.2 | $48.2 | $600.00 | $48.2K | 280 | 10 |
| INTU | PUT | TRADE | BEARISH | 01/17/25 | $51.0 | $49.7 | $51.0 | $630.00 | $35.7K | 174 | 21 |
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 US market share for small-business accounting and do-it-yourself tax-filing software.
After a thorough review of the options trading surrounding Intuit, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Intuit
- With a trading volume of 254,791, the price of INTU is up by 1.71%, reaching $622.77.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 15 days from now.
Professional Analyst Ratings for Intuit
In the last month, 1 experts released ratings on this stock with an average target price of $760.0.
- An analyst from Piper Sandler persists with their Overweight rating on Intuit, maintaining a target price of $760.
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 Intuit, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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