Deep-pocketed investors have adopted a bearish 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 9 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 33% leaning bullish and 55% bearish. Among these notable options, 7 are puts, totaling $387,683, and 2 are calls, amounting to $155,205.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $332.5 to $410.0 for Home Depot over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Home Depot options trades today is 402.83 with a total volume of 887.00.
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 $332.5 to $410.0 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD | CALL | TRADE | BULLISH | 03/21/25 | $14.7 | $14.65 | $14.7 | $380.00 | $107.3K | 20 | 0 |
| HD | PUT | SWEEP | NEUTRAL | 05/03/24 | $2.38 | $2.37 | $2.37 | $332.50 | $92.5K | 273 | 450 |
| HD | PUT | SWEEP | BEARISH | 05/17/24 | $8.0 | $7.9 | $8.0 | $337.50 | $80.0K | 130 | 100 |
| HD | PUT | TRADE | BEARISH | 01/17/25 | $25.0 | $24.8 | $25.0 | $340.00 | $62.5K | 894 | 132 |
| HD | PUT | TRADE | BULLISH | 01/17/25 | $25.5 | $25.05 | $25.05 | $340.00 | $55.1K | 894 | 25 |
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
- Currently trading with a volume of 1,176,984, the HD's price is up by 0.25%, now at $335.92.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 15 days.
Expert Opinions on Home Depot
In the last month, 5 experts released ratings on this stock with an average target price of $379.0.
- An analyst from B of A Securities has decided to maintain their Buy rating on Home Depot, which currently sits at a price target of $425.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Home Depot with a target price of $417.
- An analyst from DA Davidson persists with their Neutral rating on Home Depot, maintaining a target price of $370.
- Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Home Depot with a target price of $360.
- In a cautious move, an analyst from HSBC downgraded its rating to Reduce, setting a price target of $323.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Home Depot options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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