Check Out What Whales Are Doing With AZO

Author: Benzinga Insights | June 11, 2024 12:47pm

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

Looking at options history for AutoZone (NYSE:AZO) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $193,440 and 5, calls, for a total amount of $325,550.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2650.0 to $3200.0 for AutoZone during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of AutoZone stands at 10.17, with a total volume reaching 8.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AutoZone, situated within the strike price corridor from $2650.0 to $3200.0, throughout the last 30 days.

AutoZone Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
AZO	CALL	TRADE	BEARISH	06/21/24	$76.9	$72.0	$72.0	$2750.00	$86.4K	19	1
AZO	CALL	TRADE	BULLISH	06/21/24	$161.0	$154.7	$161.0	$2650.00	$80.5K	17	0
AZO	PUT	TRADE	NEUTRAL	12/20/24	$185.0	$171.5	$179.1	$2870.00	$71.6K	0	4
AZO	CALL	TRADE	BULLISH	12/20/24	$181.7	$169.4	$177.1	$2840.00	$70.8K	0	0
AZO	PUT	TRADE	NEUTRAL	12/20/24	$175.9	$163.2	$169.8	$2860.00	$67.9K	1	0

About AutoZone

AutoZone operates as a leading retailer of aftermarket automotive parts in the United States. The firm operates over 6,300 stores domestically, serving both the do-it-yourself and commercial (do-it-for-me) end markets. Through its vast store footprint and distribution network, AutoZone manages a wide array of stock-keeping units applicable to numerous vehicle makes and models, providing its consumers with ample product availability. The firm drives traffic by providing superior and convenient customer service as AutoZone's team of knowledgeable staff assists consumers with diagnosing a vehicle's problem, selecting the necessary part for replacement, and in some instances, installation. The company also operates internationally, with over 750 stores in Mexico and more than 100 in Brazil.

Following our analysis of the options activities associated with AutoZone, we pivot to a closer look at the company's own performance.

Current Position of AutoZone

• With a volume of 62,679, the price of AZO is up 0.86% at $2804.89.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 98 days.

What Analysts Are Saying About AutoZone

5 market experts have recently issued ratings for this stock, with a consensus target price of $3231.6.

• An analyst from Truist Securities persists with their Buy rating on AutoZone, maintaining a target price of $3394.
• Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $3400.
• An analyst from UBS persists with their Buy rating on AutoZone, maintaining a target price of $3340.
• Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on AutoZone with a target price of $3024.
• Consistent in their evaluation, an analyst from Wolfe Research keeps a Outperform rating on AutoZone with a target price of $3000.

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

Posted In: AZO