Smart Money Is Betting Big In ACN Options

Author: Benzinga Insights | June 07, 2024 03:46pm

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

Looking at options history for Accenture (NYSE:ACN) we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $776,970 and 4, calls, for a total amount of $362,491.

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 $250.0 to $320.0 for Accenture over the last 3 months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Accenture stands at 269.38, with a total volume reaching 1,983.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Accenture, situated within the strike price corridor from $250.0 to $320.0, throughout the last 30 days.

Accenture 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
ACN	PUT	TRADE	BEARISH	06/21/24	$4.8	$4.5	$4.7	$280.00	$237.8K	1.1K	1.0K
ACN	PUT	SWEEP	BULLISH	06/21/24	$4.8	$4.5	$4.7	$280.00	$232.6K	1.1K	502
ACN	CALL	TRADE	BEARISH	06/20/25	$23.0	$22.3	$22.58	$320.00	$225.8K	25	104
ACN	PUT	TRADE	BEARISH	01/17/25	$8.2	$7.9	$8.1	$250.00	$162.0K	173	200
ACN	CALL	TRADE	BEARISH	06/20/25	$31.8	$31.0	$31.2	$300.00	$78.0K	44	25

About Accenture

Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services. These services run the gamut from aiding enterprises with digital transformation to procurement services to software system integration. The company provides its IT offerings to a variety of sectors, including communications, media and technology, financial services, health and public services, consumer products, and resources. Accenture employs just under 500,000 people throughout 200 cities in 51 countries.

Where Is Accenture Standing Right Now?

• Currently trading with a volume of 1,815,332, the ACN's price is down by -1.04%, now at $288.7.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 13 days.

Professional Analyst Ratings for Accenture

In the last month, 5 experts released ratings on this stock with an average target price of $335.0.

• Reflecting concerns, an analyst from Deutsche Bank lowers its rating to Hold with a new price target of $295.
• Maintaining their stance, an analyst from Baird continues to hold a Neutral rating for Accenture, targeting a price of $345.
• In a cautious move, an analyst from Guggenheim downgraded its rating to Buy, setting a price target of $395.
• An analyst from B of A Securities has decided to maintain their Buy rating on Accenture, which currently sits at a price target of $365.
• Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on Accenture with a target price of $275.

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

Posted In: ACN