Looking At Advance Auto Parts's Recent Unusual Options Activity

Financial giants have made a conspicuous bullish move on Advance Auto Parts. Our analysis of options history for Advance Auto Parts AAP revealed 8 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $155,959, and 4 were calls, valued at $156,288.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $57.5 for Advance Auto Parts, spanning the last three months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Advance Auto Parts'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 Advance Auto Parts's whale trades within a strike price range from $35.0 to $57.5 in the last 30 days.

Advance Auto Parts Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Advance Auto Parts

Advance Auto Parts is a leading auto parts retailer in North America with more than 5,000 store and branch locations. About 60% of the firm's sales are geared toward the professional channel, with the remaining 40% going to the do-it-yourself market. Through its vast store footprint and distribution network, Advance manages thousands of stock-keeping units conducive to various vehicle makes and models. The retailer primarily competes on the basis of inventory availability and service speed, making the operating efficiency of its hub and spoke distribution model critical to meeting customer needs.

Following our analysis of the options activities associated with Advance Auto Parts, we pivot to a closer look at the company's own performance.

Present Market Standing of Advance Auto Parts

• Currently trading with a volume of 1,705,988, the AAP's price is down by -3.84%, now at $40.79.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 69 days.

Expert Opinions on Advance Auto Parts

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $56.4.

• An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Advance Auto Parts, which currently sits at a price target of $60.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Advance Auto Parts with a target price of $46.
• Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Advance Auto Parts with a target price of $55.
• In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $65.
• An analyst from UBS has decided to maintain their Neutral rating on Advance Auto Parts, which currently sits at a price target of $56.

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 Advance Auto Parts with Benzinga Pro for real-time alerts.