This Is What Whales Are Betting On AutoZone

Investors with a lot of money to spend have taken a bullish stance on AutoZone AZO.

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 AZO, 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 8 uncommon options trades for AutoZone.

This isn’t normal.

The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $212,260, and 4 are calls, for a total amount of $224,700.

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 $3100.0 and $4250.0 for AutoZone, spanning the last three months.

Volume & Open Interest Development

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 AutoZone’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 AutoZone’s whale activity within a strike price range from $3100.0 to $4250.0 in the last 30 days.

AutoZone Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About AutoZone

AutoZone operates as a leading retailer of aftermarket automotive parts in the United States. The firm operates more than 6,400 stores domestically, serving both the do-it-yourself and commercial (do-it-for-me) end markets. Through its vast store footprint and distribution network, AutoZone manages a wide array of stock-keeping units applicable to numerous vehicle makes and models, providing its consumers with ample product availability. The firm drives traffic by providing superior and convenient customer service as AutoZone’s team of knowledgeable staff assists consumers with diagnosing a vehicle’s problem, selecting the necessary part for replacement, and occasionally, installation. The company also operates internationally, with 800 stores in Mexico and more than 100 in Brazil.

AutoZone’s Current Market Status

• With a trading volume of 92,316, the price of AZO is up by 0.98%, reaching $3846.7.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 47 days from now.

Professional Analyst Ratings for AutoZone

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $3863.2.

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 Roth MKM has decided to maintain their Buy rating on AutoZone, which currently sits at a price target of $3763.
* An analyst from B of A Securities persists with their Neutral rating on AutoZone, maintaining a target price of $3700.
* An analyst from DA Davidson upgraded its action to Buy with a price target of $4192.
* Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for AutoZone, targeting a price of $3850.
* An analyst from Goldman Sachs has elevated its stance to Neutral, setting a new price target at $3811.

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 AutoZone, Benzinga Pro gives you real-time options trades alerts.