Investors with a lot of money to spend have taken a bearish 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 16 uncommon options trades for Intuit.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $122,340, and 12 are calls, for a total amount of $853,549.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $300.0 to $720.0 for Intuit over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $300.0 to $720.0 in the last 30 days.
Intuit Option Volume And Open Interest Over 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 | 06/21/24 | $57.0 | $54.8 | $57.0 | $570.00 | $210.9K | 300 | 39 |
| INTU | CALL | TRADE | BEARISH | 07/19/24 | $39.5 | $38.7 | $38.7 | $590.00 | $116.1K | 689 | 0 |
| INTU | CALL | SWEEP | BULLISH | 07/19/24 | $19.1 | $18.9 | $19.1 | $620.00 | $89.7K | 264 | 50 |
| INTU | CALL | TRADE | BULLISH | 06/21/24 | $57.1 | $54.7 | $57.1 | $570.00 | $74.2K | 300 | 39 |
| INTU | CALL | SWEEP | BEARISH | 03/21/25 | $58.2 | $53.4 | $53.4 | $650.00 | $60.7K | 14 | 0 |
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
- Trading volume stands at 1,248,167, with INTU's price up by 1.65%, positioned at $626.24.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 62 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.