Investors with a lot of money to spend have taken a bullish stance on Home Depot HD.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with HD, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Home Depot.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 30%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $435,593, and 3 are calls, for a total amount of $427,987.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $390.0 for Home Depot, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $200.0 to $390.0 in the last 30 days.
Home Depot 30-Day Option Volume & Interest Snapshot
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 | SWEEP | BEARISH | 11/15/24 | $12.5 | $12.25 | $12.22 | $350.00 | $368.3K | 204 | 306 |
| HD | PUT | SWEEP | NEUTRAL | 01/17/25 | $10.05 | $9.85 | $9.85 | $300.00 | $241.0K | 1.5K | 269 |
| HD | PUT | TRADE | BEARISH | 06/21/24 | $64.55 | $62.0 | $63.55 | $390.00 | $44.4K | 66 | 7 |
| HD | PUT | SWEEP | BULLISH | 06/20/25 | $9.1 | $8.35 | $8.35 | $270.00 | $42.6K | 400 | 54 |
| HD | CALL | SWEEP | BULLISH | 07/19/24 | $6.45 | $6.2 | $6.4 | $335.00 | $32.5K | 330 | 80 |
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). The additions of the Company Store brought textile exposure to the lineup, while Redi Carpet added multifamily flooring.
Following our analysis of the options activities associated with Home Depot, we pivot to a closer look at the company's own performance.
Current Position of Home Depot
- With a trading volume of 599,085, the price of HD is up by 1.24%, reaching $327.67.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 75 days from now.
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.
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