AutoZone Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for AutoZone (NYSE:AZO), with a bearish stance being taken by a 'whale' investor. Of the 13 strange trades detected, 46% were bullish and 53% were bearish. The price target range for AutoZone over the last 3 months has been $1830.0 to $2750.0. The current price of AZO is down -1.3% at $2456.3. Truist Securities maintains a Buy rating on AutoZone with a price target of $2863, while TD Cowen and Oppenheimer have downgraded their actions with price targets of $2975 and $2600 respectively.
October 23, 2023 | 6:15 pm
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Unusual options activity has been detected for AutoZone, with a bearish stance being taken by a 'whale' investor. The price target range for AutoZone over the last 3 months has been $1830.0 to $2750.0. The current price of AZO is down -1.3% at $2456.3.
The bearish stance taken by a 'whale' investor, coupled with the unusual options activity, indicates a potential downward pressure on the stock price. The current price of AZO is already down -1.3% at $2456.3, which is within the price target range of $1830.0 to $2750.0 set by the whales over the last 3 months. Additionally, the downgrades by TD Cowen and Oppenheimer could further negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100