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A Closer Look at Intuit's Options Market Dynamics

Author: Benzinga Insights | April 09, 2024 04:31pm

Financial giants have made a conspicuous bearish move on Intuit. Our analysis of options history for Intuit (NASDAQ:INTU) revealed 19 unusual trades.

Delving into the details, we found 31% of traders were bullish, while 68% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $813,211, and 6 were calls, valued at $258,850.

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 $400.0 to $740.0 for Intuit over the last 3 months.

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 $400.0 to $740.0 in the last 30 days.

Intuit Call and Put Volume: 30-Day Overview

Options Call Chart

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 SWEEP BULLISH 10/18/24 $48.2 $47.9 $47.9 $640.00 $387.9K 36 13
INTU PUT TRADE BULLISH 10/18/24 $48.9 $47.4 $47.8 $640.00 $66.9K 36 96
INTU CALL TRADE BULLISH 10/18/24 $61.0 $60.2 $61.0 $650.00 $61.0K 6 10
INTU PUT SWEEP BEARISH 05/10/24 $11.8 $11.1 $11.8 $620.00 $55.4K 1 63
INTU CALL TRADE BEARISH 04/19/24 $250.8 $247.0 $247.0 $400.00 $49.4K 2 0

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 U.S. market share for small-business accounting and DIY 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.

Where Is Intuit Standing Right Now?

  • Trading volume stands at 845,268, with INTU's price down by -0.05%, positioned at $644.09.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 42 days.

What The Experts Say On Intuit

In the last month, 2 experts released ratings on this stock with an average target price of $710.0.

  • An analyst from BMO Capital persists with their Outperform rating on Intuit, maintaining a target price of $700.
  • Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Intuit, targeting a price of $720.

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 Intuit with Benzinga Pro for real-time alerts.

Posted In: INTU

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