Check Out What Whales Are Doing With INTU

Author: Benzinga Insights | May 28, 2024 12:31pm

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 36% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $440,663, and 9 were calls, valued at $398,618.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $570.0 to $730.0 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 $570.0 to $730.0 in the last 30 days.

Intuit Call and Put Volume: 30-Day Overview

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	BEARISH	12/20/24	$44.7	$42.4	$43.9	$600.00	$79.0K	56	21
INTU	CALL	SWEEP	BEARISH	06/07/24	$11.5	$11.0	$11.0	$595.00	$64.9K	0	127
INTU	PUT	TRADE	BEARISH	10/18/24	$79.7	$76.6	$78.74	$670.00	$62.9K	49	8
INTU	PUT	TRADE	NEUTRAL	10/18/24	$79.9	$77.0	$78.59	$670.00	$62.8K	49	16
INTU	CALL	SWEEP	BEARISH	06/07/24	$12.6	$12.2	$12.2	$595.00	$60.9K	0	229

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 US market share for small-business accounting and do-it-yourself 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.

Present Market Standing of Intuit

• Trading volume stands at 1,106,687, with INTU's price down by -1.39%, positioned at $598.53.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 86 days.

What Analysts Are Saying About Intuit

In the last month, 5 experts released ratings on this stock with an average target price of $731.0.

• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Intuit with a target price of $750.
• Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Intuit with a target price of $770.
• Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Intuit with a target price of $655.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Intuit with a target price of $740.
• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Intuit, targeting a price of $740.

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 Intuit, Benzinga Pro gives you real-time options trades alerts.

Posted In: INTU