Market Whales and Their Recent Bets on INTU Options

Author: Benzinga Insights | April 16, 2024 03:02pm

Investors with a lot of money to spend have taken a bullish stance on Intuit (NASDAQ: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 12 uncommon options trades for Intuit.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $259,350, and 8 are calls, for a total amount of $370,806.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $560.0 and $720.0 for Intuit, spanning the last three months.

Analyzing 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 $560.0 to $720.0 in the last 30 days.

Intuit Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
INTU	PUT	SWEEP	BULLISH	07/19/24	$27.0	$26.9	$26.9	$600.00	$115.6K	268	36
INTU	PUT	SWEEP	BULLISH	07/19/24	$27.4	$26.9	$26.9	$600.00	$86.0K	268	36
INTU	CALL	SWEEP	BULLISH	05/17/24	$9.1	$8.9	$9.06	$650.00	$68.7K	212	134
INTU	CALL	TRADE	BULLISH	12/20/24	$42.2	$41.1	$42.2	$690.00	$54.8K	21	13
INTU	CALL	SWEEP	NEUTRAL	05/17/24	$9.3	$8.9	$9.03	$650.00	$53.4K	212	123

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 do-it-yourself tax-filing software.

Intuit's Current Market Status

• Currently trading with a volume of 576,795, the INTU's price is up by 0.2%, now at $613.32.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 35 days.

What Analysts Are Saying About 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.
• Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Intuit with a target price of $720.

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.

Posted In: INTU