Someone with a lot of money to spend has taken a bullish stance on Advance Auto Parts AAP.
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 AAP, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 10 options trades for Advance Auto Parts.
This isn’t normal.
The overall sentiment of these big-money traders is split between 70% bullish and 30%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $60,320, and 9, calls, for a total amount of $454,180..
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 $180.0 to $185.0 for Advance Auto Parts over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Advance Auto Parts options trades today is 213.0 with a total volume of 1,158.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Advance Auto Parts’s big money trades within a strike price range of $180.0 to $185.0 over the last 30 days.
Advance Auto Parts Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AAP | CALL | SWEEP | BULLISH | 01/20/23 | $185.00 | $97.2K | 413 | 250 |
| AAP | PUT | SWEEP | BEARISH | 09/16/22 | $185.00 | $60.3K | 90 | 53 |
| AAP | CALL | TRADE | BULLISH | 01/20/23 | $185.00 | $60.0K | 413 | 122 |
| AAP | CALL | TRADE | BEARISH | 12/16/22 | $180.00 | $57.9K | 136 | 87 |
| AAP | CALL | TRADE | BULLISH | 12/16/22 | $180.00 | $57.0K | 136 | 117 |
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AAP | CALL | SWEEP | BULLISH | 01/20/23 | $185.00 | $97.2K | 413 | 250 |
| AAP | PUT | SWEEP | BEARISH | 09/16/22 | $185.00 | $60.3K | 90 | 53 |
| AAP | CALL | TRADE | BULLISH | 01/20/23 | $185.00 | $60.0K | 413 | 122 |
| AAP | CALL | TRADE | BEARISH | 12/16/22 | $180.00 | $57.9K | 136 | 87 |
| AAP | CALL | TRADE | BULLISH | 12/16/22 | $180.00 | $57.0K | 136 | 117 |
Where Is Advance Auto Parts Standing Right Now?
- With a volume of 656,383, the price of AAP is up 0.3% at $185.9.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 40 days.
What The Experts Say On Advance Auto Parts:
- MKM Partners downgraded its action to Buy with a price target of $195
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 Advance Auto Parts, Benzinga Pro gives you real-time options trades alerts.