Investors with a lot of money to spend have taken a bullish 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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with INTU, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Intuit.
This isn't normal.
The overall sentiment of these big-money traders is split between 69% bullish and 15%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $301,640, and 6 are calls, for a total amount of $226,850.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $500.0 to $690.0 for Intuit during the past quarter.
Insights into Volume & Open Interest
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 Intuit'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 Intuit's whale trades within a strike price range from $500.0 to $690.0 in the last 30 days.
Intuit 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BULLISH | 10/18/24 | $18.0 | $17.8 | $18.0 | $660.00 | $59.4K | 255 | 59 |
| INTU | PUT | TRADE | NEUTRAL | 03/21/25 | $7.0 | $6.8 | $6.9 | $500.00 | $55.2K | 12 | 350 |
| INTU | PUT | SWEEP | BULLISH | 03/21/25 | $7.1 | $7.0 | $7.0 | $500.00 | $52.5K | 12 | 270 |
| INTU | PUT | TRADE | BEARISH | 03/21/25 | $6.6 | $6.2 | $6.5 | $500.00 | $49.4K | 12 | 539 |
| INTU | CALL | TRADE | BULLISH | 03/21/25 | $94.4 | $92.8 | $94.4 | $600.00 | $47.2K | 17 | 5 |
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.
Following our analysis of the options activities associated with Intuit, we pivot to a closer look at the company's own performance.
Present Market Standing of Intuit
- Trading volume stands at 1,041,770, with INTU's price up by 3.49%, positioned at $655.19.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 68 days.
Professional Analyst Ratings for Intuit
5 market experts have recently issued ratings for this stock, with a consensus target price of $739.6.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $768. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Intuit, targeting a price of $600. * An analyst from BMO Capital has decided to maintain their Outperform rating on Intuit, which currently sits at a price target of $760. * Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Intuit with a target price of $790. * An analyst from B of A Securities persists with their Buy rating on Intuit, maintaining a target price of $780.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
