Smart Money Is Betting Big In INTU Options

Author: Benzinga Insights | September 12, 2024 01:54pm

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 9 uncommon options trades for Intuit.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 11%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $428,300, and 3 are calls, for a total amount of $2,076,862.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $530.0 and $760.0 for Intuit, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Intuit's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Intuit's significant trades, within a strike price range of $530.0 to $760.0, over the past month.

Intuit 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
INTU	CALL	TRADE	BULLISH	12/18/26	$144.0	$137.0	$144.0	$640.00	$1.9M	0	0
INTU	PUT	TRADE	BULLISH	06/20/25	$130.3	$128.9	$128.9	$760.00	$90.2K	7	7
INTU	PUT	TRADE	BEARISH	06/20/25	$128.8	$126.8	$128.8	$760.00	$90.1K	7	24
INTU	PUT	TRADE	NEUTRAL	06/20/25	$132.2	$125.7	$128.8	$760.00	$90.1K	7	14
INTU	PUT	TRADE	BULLISH	06/20/25	$103.6	$99.7	$99.8	$720.00	$79.8K	6	8

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.

Intuit's Current Market Status

• With a trading volume of 358,874, the price of INTU is down by -0.01%, reaching $643.86.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 75 days from now.

What The Experts Say On Intuit

5 market experts have recently issued ratings for this stock, with a consensus target price of $720.0.

• An analyst from Susquehanna has decided to maintain their Positive rating on Intuit, which currently sits at a price target of $757.
• An analyst from Morgan Stanley has revised its rating downward to Equal-Weight, adjusting the price target to $685.
• Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Intuit, targeting a price of $790.
• Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Intuit, targeting a price of $600.
• Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $768.

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