Deep-pocketed investors have adopted a bullish approach towards Home Depot HD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Home Depot. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 54% leaning bullish and 45% bearish. Among these notable options, 3 are puts, totaling $95,322, and 8 are calls, amounting to $502,590.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $305.0 to $385.0 for Home Depot during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Home Depot options trades today is 841.82 with a total volume of 406.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Home Depot's big money trades within a strike price range of $305.0 to $385.0 over the last 30 days.
Home Depot Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HD | CALL | TRADE | BULLISH | 03/01/24 | $357.50 | $126.2K | 0 | 0 |
| HD | CALL | TRADE | BEARISH | 02/16/24 | $305.00 | $100.0K | 362 | 20 |
| HD | CALL | TRADE | BEARISH | 03/15/24 | $360.00 | $81.5K | 2.3K | 145 |
| HD | CALL | SWEEP | BEARISH | 03/15/24 | $350.00 | $66.5K | 2.4K | 52 |
| HD | CALL | TRADE | BULLISH | 02/16/24 | $340.00 | $45.7K | 707 | 71 |
About Home Depot
Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico. Its stores offer numerous building materials, home improvement products, lawn and garden products, and decor products and provide various services, including home improvement installation services and tool and equipment rentals. The acquisition of distributor Interline Brands in 2015 allowed Home Depot to enter the maintenance, repair, and operations business, which has been expanded through the tie-up with HD Supply (2020). Moreover, the additions of the Company Store brought textile exposure to the lineup, while Redi Carpet added multifamily flooring.
Present Market Standing of Home Depot
- With a trading volume of 494,860, the price of HD is down by -3.15%, reaching $353.94.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 7 days from now.
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 Home Depot, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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