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 45% leaning bullish and 45% bearish. Among these notable options, 2 are puts, totaling $78,400, and 9 are calls, amounting to $483,645.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $360.0 for Home Depot during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Home Depot's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Home Depot's substantial trades, within a strike price spectrum from $200.0 to $360.0 over the preceding 30 days.
Home Depot Option Activity Analysis: Last 30 Days
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 | 01/17/25 | $43.7 | $43.7 | $43.7 | $320.00 | $109.2K | 912 | 0 |
| HD | CALL | TRADE | BEARISH | 01/17/25 | $148.5 | $148.0 | $148.0 | $200.00 | $74.0K | 54 | 5 |
| HD | CALL | TRADE | BEARISH | 06/21/24 | $13.4 | $13.2 | $13.28 | $340.00 | $66.4K | 4.3K | 62 |
| HD | CALL | SWEEP | BULLISH | 06/21/24 | $11.55 | $11.15 | $11.47 | $340.00 | $57.2K | 4.3K | 50 |
| HD | PUT | TRADE | BEARISH | 01/16/26 | $43.5 | $42.05 | $43.5 | $360.00 | $43.5K | 46 | 0 |
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.
After a thorough review of the options trading surrounding Home Depot, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Home Depot's Current Market Status
- Trading volume stands at 857,024, with HD's price up by 1.75%, positioned at $344.75.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 5 days.
Professional Analyst Ratings for Home Depot
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $396.75.
- An analyst from Truist Securities has decided to maintain their Buy rating on Home Depot, which currently sits at a price target of $417.
- An analyst from Citigroup persists with their Buy rating on Home Depot, maintaining a target price of $395.
- An analyst from Telsey Advisory Group persists with their Market Perform rating on Home Depot, maintaining a target price of $360.
- An analyst from Evercore ISI Group persists with their Outperform rating on Home Depot, maintaining a target price of $415.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Home Depot with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
