Spotlight on Intuit: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Significant bearish options activity has been observed in Intuit (NASDAQ:INTU), with a notable focus on puts valued at $665,670, indicating potential insider knowledge of forthcoming events. The options sentiment is predominantly bearish, with a price target range between $600 and $650. Despite this, Intuit's current stock price is up by 0.82% at $660.45, and analysts maintain a positive outlook with an average target price of $739. The company, known for its accounting and tax software, is currently neutral in RSI terms, with earnings expected in 68 days.
March 14, 2024 | 3:17 pm
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Intuit has seen significant bearish options activity, yet maintains a positive stock price increase and analyst outlook.
Despite the bearish options activity indicating potential insider knowledge of negative forthcoming events, Intuit's stock price has increased, and analysts remain positive with a higher target price. This suggests that the bearish sentiment may not significantly impact the stock's short-term performance, especially considering the company's strong market position and upcoming earnings release.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100