← Option Trades · Experimental · High Risk
INTU: Long call
BullishIntuit
Halved from its high and priced for a bad answer, hours before the answer.
By Atul Ghandhi · Updated August 25, 2026 (2026-08-25)
The Trade
| Leg | Type | Strike | Expiry |
|---|---|---|---|
| buy | call | $390.00 | Fri, Aug 28 |
Struck against: $369.92 ▲ 0.80% (Aug 24 close, per StockAnalysis.com)
Catalyst: Fiscal Q4 2026 earnings, Tuesday Aug 25 after the close, call at 4:30pm ET
New to this structure? Calls and puts explained →
The Exits
- Event hold
- Hold through tonight’s call. The premium can go to zero by morning, and that is the accepted risk.
- Profit order
- Sell into Wednesday’s first hour on any gap above $395. Do not wait for $400 to print.
- Time stop
- Out by Wednesday noon either way. Two more days of theta buys nothing new.
Sizing reality: One contract controls 100 shares, about $37,000 of notional against the Aug 24 close.
Why This Trade
Intuit reports tonight. The quarter itself is bracketed: the raised guide leaves about $4.26 billion for fiscal Q4, roughly 11% growth. The number that moves the stock is the fiscal 2027 guide issued on the call.
The stock trades 49% below its 52-week high of $721.54. The market pays under 14 times forward earnings for a franchise that grew 17.8% in the first half. That multiple prices structural decline.
The chain priced a 9.1% move as of Friday. A fiscal 2027 revenue guide that starts with a double digit is more than the market currently pays for, and 9.1% up from $369.92 clears $400. The $390 strike sits inside that move.
The risk is the guide confirms the bear case. Then the stock revisits the low $340s and the call expires worthless. That is the trade.
The Chain
The Fri, Aug 28 strikes this trade lives in. Cboe delayed quotes as of 2026-08-25 14:48:50 ET, with INTU at $361.24. The page refreshes the numbers hourly.
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | · | Bid | Ask | Last |
| 10.90 | 11.70 | 11.10 | 370.00 | 19.00 | 21.40 | 19.60 |
| 7.40 | 8.20 | 7.30 | 380.00 | 24.00 | 28.30 | 26.20 |
| 4.60 | 5.30 | 5.08 | 390.00 | 32.10 | 36.20 | 26.55 |
| 3.10 | 3.40 | 3.24 | 400.00 | 38.90 | 45.00 | 41.82 |
| 1.30 | 2.10 | 1.95 | 410.00 | 48.80 | 54.20 | 42.21 |