Looking At Intuit's Recent Unusual Options Activity

Author: Benzinga Insights | May 22, 2024 01:01pm

Whales with a lot of money to spend have taken a noticeably bullish stance on Intuit.

Looking at options history for Intuit (NASDAQ:INTU) we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $344,285 and 3, calls, for a total amount of $77,550.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $600.0 to $700.0 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 $600.0 to $700.0 in the last 30 days.

Intuit Call and Put Volume: 30-Day Overview

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	01/16/26	$59.4	$55.9	$56.5	$600.00	$123.8K	8	22
INTU	PUT	SWEEP	BULLISH	01/16/26	$61.0	$59.7	$59.7	$610.00	$95.9K	7	44
INTU	PUT	SWEEP	BEARISH	09/20/24	$13.1	$13.0	$13.1	$600.00	$39.3K	143	30
INTU	PUT	SWEEP	BULLISH	06/21/24	$12.3	$11.9	$12.03	$650.00	$28.8K	81	28
INTU	PUT	TRADE	BULLISH	01/16/26	$59.4	$55.9	$56.4	$600.00	$28.2K	8	57

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.

Having examined the options trading patterns of Intuit, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Intuit

• With a volume of 417,754, the price of INTU is up 0.75% at $672.8.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 1 days.

What Analysts Are Saying About Intuit

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $725.0.

• An analyst from Wells Fargo has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $750.
• An analyst from Keybanc persists with their Overweight rating on Intuit, maintaining a target price of $740.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Intuit with a target price of $740.
• An analyst from UBS has decided to maintain their Neutral rating on Intuit, which currently sits at a price target of $670.

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