Smart Money Is Betting Big In INTU Options

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 39 uncommon options trades for Intuit.

This isn't normal.

The overall sentiment of these big-money traders is split between 51% bullish and 33%, bearish.

Out of all of the special options we uncovered, 16 are puts, for a total amount of $1,296,161, and 23 are calls, for a total amount of $1,145,442.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $540.0 to $700.0 for Intuit over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Intuit stands at 176.44, with a total volume reaching 1,464.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Intuit, situated within the strike price corridor from $540.0 to $700.0, throughout the last 30 days.

Intuit Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About Intuit

Intuit serves small and midsize businesses with accounting software QuickBooks and online marketing platform Mailchimp. The company also operates retail tax filing tool TurboTax, personal finance platform Credit Karma, and a suite of professional tax offerings for accountants. Founded in the mid-1980s, Intuit enjoys a dominant market share for small business accounting and do-it-yourself tax filing in the US.

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

• Trading volume stands at 598,725, with INTU's price down by -1.55%, positioned at $615.81.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 84 days.

Expert Opinions on Intuit

4 market experts have recently issued ratings for this stock, with a consensus target price of $738.75.

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. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $785. * In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $730. * Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Intuit, targeting a price of $714. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Intuit, targeting a price of $726.

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 Intuit options trades with real-time alerts from Benzinga Pro.