Deep-pocketed investors have adopted a bearish approach towards Intuit (NASDAQ:INTU), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in INTU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Intuit. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 43% bearish. Among these notable options, 4 are puts, totaling $398,526, and 12 are calls, amounting to $1,353,523.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $600.0 and $760.0 for Intuit, spanning the last three months.
Volume & Open Interest Development
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 $600.0 to $760.0, over the past month.
Intuit Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BEARISH | 12/20/24 | $24.9 | $23.0 | $23.0 | $680.00 | $782.0K | 205 | 341 |
| INTU | PUT | TRADE | BEARISH | 01/17/25 | $13.4 | $10.9 | $12.9 | $620.00 | $258.0K | 344 | 200 |
| INTU | CALL | SWEEP | BULLISH | 01/17/25 | $14.6 | $14.6 | $14.6 | $720.00 | $91.9K | 530 | 64 |
| INTU | PUT | TRADE | BEARISH | 01/17/25 | $8.3 | $8.0 | $8.3 | $600.00 | $83.0K | 307 | 104 |
| INTU | CALL | TRADE | NEUTRAL | 11/29/24 | $50.6 | $44.7 | $47.65 | $630.00 | $81.0K | 24 | 17 |
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.
Where Is Intuit Standing Right Now?
- With a volume of 848,632, the price of INTU is up 3.98% at $676.48.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 0 days.
What Analysts Are Saying About Intuit
In the last month, 2 experts released ratings on this stock with an average target price of $750.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.* An analyst from Barclays has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $800. * In a cautious move, an analyst from Scotiabank downgraded its rating to Sector Perform, setting a price target of $700.
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.
