Benzinga | Dec 20, 2021 11:38AM EST

Looking At Intuit's Recent Whale Trades

Someone with a lot of money to spend has taken a bullish stance on Intuit (NASDAQ:INTU).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with INTU, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Intuit.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $382,463, and 5 are calls, for a total amount of $434,680.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $690.0 for Intuit over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Intuit options trades today is 121.8 with a total volume of 385.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Intuit's big money trades within a strike price range of $400.0 to $690.0 over the last 30 days.

Intuit Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestINTU CALL TRADE NEUTRAL 01/19/ $550.00 $202.2K 28 13 24INTU PUT SWEEP BULLISH 01/20/ $600.00 $142.1K 42 16 23INTU CALL TRADE BEARISH 01/19/ $400.00 $127.6K 2 5 24INTU PUT TRADE BULLISH 01/20/ $620.00 $59.9K 61 6 23INTU PUT TRADE NEUTRAL 01/21/ $500.00 $54.7K 427 160 22

Where Is Intuit Standing Right Now?

* With a volume of 688,784, the price of INTU is down -2.95% at $601.98.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 64 days.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.