Unpacking the Latest Options Trading Trends in AutoZone

Investors with a lot of money to spend have taken a bearish 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 25% bullish and 75%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $315,640, and 6 are calls, for a total amount of $576,294.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2710.0 to $3150.0 for AutoZone over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $2710.0 to $3150.0 in the last 30 days.

AutoZone Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About AutoZone

AutoZone operates as a leading retailer of aftermarket automotive parts in the United States. The firm operates over 6,300 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 in some instances, installation. The company also operates internationally, with over 750 stores in Mexico and 100 in Brazil.

Following our analysis of the options activities associated with AutoZone, we pivot to a closer look at the company's own performance.

Current Position of AutoZone

• Trading volume stands at 52,907, with AZO's price down by 0.0%, positioned at $3011.62.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 82 days.

Professional Analyst Ratings for AutoZone

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $3155.0.

• An analyst from Barclays has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $3100.
• An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $2950.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for AutoZone, targeting a price of $3100.
• Maintaining their stance, an analyst from UBS continues to hold a Buy rating for AutoZone, targeting a price of $3425.
• An analyst from JP Morgan has decided to maintain their Overweight rating on AutoZone, which currently sits at a price target of $3200.

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.