A whale with a lot of money to spend has taken a noticeably bullish stance on AutoZone.
Looking at options history for AutoZone (NYSE:AZO) we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $515,767 and 5, calls, for a total amount of $413,650.
What’s The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1340.0 to $3080.0 for AutoZone over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for AutoZone options trades today is 34.75 with a total volume of 584.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for AutoZone’s big money trades within a strike price range of $1340.0 to $3080.0 over the last 30 days.
AutoZone Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AZO | PUT | TRADE | BEARISH | 06/16/23 | $2600.00 | $255.3K | 111 | 3 |
| AZO | CALL | SWEEP | BULLISH | 05/26/23 | $2520.00 | $129.2K | 1 | 74 |
| AZO | CALL | TRADE | BEARISH | 09/15/23 | $1340.00 | $117.8K | 0 | 1 |
| AZO | CALL | SWEEP | BULLISH | 05/26/23 | $2520.00 | $82.5K | 1 | 32 |
| AZO | PUT | TRADE | BULLISH | 05/26/23 | $3080.00 | $58.0K | 0 | 0 |
Where Is AutoZone Standing Right Now?
- With a volume of 105,782, the price of AZO is down -3.43% at $2530.0.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 0 days.
What The Experts Say On AutoZone:
- Wedbush has decided to maintain their Outperform rating on AutoZone, which currently sits at a price target of $2750.
- Citigroup has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $3125.
- UBS has decided to maintain their Neutral rating on AutoZone, which currently sits at a price target of $2900.
- JP Morgan has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $2975.
- Morgan Stanley has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $2835.
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 AutoZone, Benzinga Pro gives you real-time options trades alerts.
