Decoding AutoZone's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish approach towards AutoZone AZO, 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 AZO usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 12 extraordinary options activities for AutoZone. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 41% leaning bullish and 8% bearish. Among these notable options, 5 are puts, totaling $332,750, and 7 are calls, amounting to $324,653.

What’s The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2800.0 to $4000.0 for AutoZone over the recent three 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 $2800.0 to $4000.0 in the last 30 days.

AutoZone 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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 in some instances, installation. The company also operates internationally, with 800 stores in Mexico and more than 100 in Brazil.

Current Position of AutoZone

• With a volume of 85,033, the price of AZO is up 0.14% at $3561.03.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 75 days.

What Analysts Are Saying About 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 $3718.2.

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* An analyst from B of A Securities persists with their Neutral rating on AutoZone, maintaining a target price of $3700.
* Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for AutoZone, targeting a price of $3850.
* In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $3700.
* An analyst from DA Davidson persists with their Neutral rating on AutoZone, maintaining a target price of $3500.
* An analyst from Truist Securities persists with their Buy rating on AutoZone, maintaining a target price of $3841.

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.