A Closer Look at Intuit's Options Market Dynamics
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 12 uncommon options trades for Intuit.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 8%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $51,335, and 10 are calls, for a total amount of $570,520.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $550.0 to $820.0 for Intuit during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Intuit's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Intuit's substantial trades, within a strike price spectrum from $550.0 to $820.0 over the preceding 30 days.
Intuit Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BULLISH | 10/18/24 | $28.7 | $28.4 | $28.7 | $700.00 | $103.3K | 57 | 22 |
| INTU | CALL | SWEEP | BULLISH | 10/18/24 | $28.7 | $28.3 | $28.7 | $700.00 | $83.2K | 57 | 22 |
| INTU | CALL | SWEEP | BEARISH | 07/05/24 | $72.5 | $66.3 | $70.4 | $600.00 | $70.4K | 93 | 0 |
| INTU | CALL | TRADE | BULLISH | 09/20/24 | $31.6 | $30.7 | $31.5 | $680.00 | $69.3K | 358 | 46 |
| INTU | CALL | TRADE | BULLISH | 09/20/24 | $30.5 | $29.8 | $30.5 | $680.00 | $67.1K | 358 | 68 |
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.
After a thorough review of the options trading surrounding Intuit, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Intuit's Current Market Status
- Trading volume stands at 740,305, with INTU's price up by 1.47%, positioned at $669.62.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 48 days.
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.