Whales with a lot of money to spend have taken a noticeably bearish stance on Home Depot.
Looking at options history for Home Depot HD we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $120,500 and 9, calls, for a total amount of $344,490.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $305.0 and $370.0 for Home Depot, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Home Depot's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Home Depot's whale trades within a strike price range from $305.0 to $370.0 in the last 30 days.
Home Depot Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD | CALL | TRADE | BULLISH | 06/21/24 | $6.9 | $6.4 | $6.9 | $350.00 | $69.0K | 1.4K | 137 |
| HD | PUT | SWEEP | NEUTRAL | 11/15/24 | $12.65 | $11.7 | $11.7 | $330.00 | $58.5K | 50 | 50 |
| HD | CALL | SWEEP | NEUTRAL | 06/21/24 | $8.5 | $7.75 | $8.15 | $345.00 | $48.9K | 960 | 0 |
| HD | CALL | TRADE | BEARISH | 09/20/24 | $49.0 | $48.4 | $48.4 | $305.00 | $38.7K | 225 | 8 |
| HD | CALL | SWEEP | BEARISH | 06/07/24 | $3.85 | $3.55 | $3.55 | $355.00 | $35.5K | 34 | 100 |
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.
Where Is Home Depot Standing Right Now?
- With a volume of 906,469, the price of HD is up 1.82% at $346.71.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 90 days.
What Analysts Are Saying About Home Depot
In the last month, 5 experts released ratings on this stock with an average target price of $388.2.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Home Depot, which currently sits at a price target of $420.
- Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Home Depot with a target price of $360.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Home Depot with a target price of $406.
- An analyst from Telsey Advisory Group persists with their Market Perform rating on Home Depot, maintaining a target price of $360.
- An analyst from Citigroup persists with their Buy rating on Home Depot, maintaining a target price of $395.
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.
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