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 8 extraordinary options activities for Intuit. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 75% bearish. Among these notable options, 2 are puts, totaling $56,030, and 6 are calls, amounting to $291,835.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $470.0 to $800.0 for Intuit over the recent three months.
Volume & Open Interest Trends
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 $470.0 to $800.0 over the preceding 30 days.
Intuit 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INTU | CALL | SWEEP | BEARISH | 06/21/24 | $10.3 | $9.9 | $9.65 | $700.00 | $56.1K | 445 | 274 |
| INTU | CALL | TRADE | BEARISH | 06/21/24 | $23.6 | $23.3 | $23.3 | $660.00 | $55.9K | 348 | 25 |
| INTU | CALL | TRADE | BEARISH | 12/20/24 | $67.9 | $66.5 | $66.5 | $660.00 | $53.2K | 76 | 8 |
| INTU | CALL | SWEEP | BEARISH | 12/19/25 | $66.0 | $64.1 | $64.1 | $800.00 | $51.2K | 1 | 13 |
| INTU | CALL | SWEEP | NEUTRAL | 05/17/24 | $7.2 | $6.5 | $6.43 | $650.00 | $38.2K | 578 | 294 |
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 U.S. 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.
Present Market Standing of Intuit
- Trading volume stands at 448,202, with INTU's price down by -0.15%, positioned at $654.17.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 7 days.
Expert Opinions on Intuit
In the last month, 1 experts released ratings on this stock with an average target price of $740.0.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Intuit, which currently sits at a price target of $740.
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.