Investors with a lot of money to spend have taken a bearish 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 12 uncommon options trades for Home Depot.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 66%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $195,852, and 6 are calls, for a total amount of $538,271.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $370.0 for Home Depot over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Home Depot stands at 328.6, with a total volume reaching 455.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Home Depot, situated within the strike price corridor from $150.0 to $370.0, throughout 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 | SWEEP | NEUTRAL | 01/16/26 | $203.0 | $194.6 | $199.15 | $150.00 | $199.1K | 1 | 0 |
| HD | CALL | SWEEP | BEARISH | 08/16/24 | $13.75 | $12.8 | $13.08 | $340.00 | $130.7K | 656 | 114 |
| HD | CALL | TRADE | BEARISH | 07/19/24 | $6.55 | $6.25 | $6.37 | $340.00 | $63.7K | 651 | 35 |
| HD | CALL | SWEEP | BEARISH | 07/26/24 | $6.2 | $6.15 | $6.15 | $345.00 | $61.6K | 37 | 11 |
| HD | CALL | SWEEP | NEUTRAL | 07/05/24 | $2.97 | $2.31 | $2.63 | $345.00 | $52.6K | 611 | 34 |
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.
In light of the recent options history for Home Depot, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Home Depot
- Currently trading with a volume of 1,071,217, the HD's price is down by -3.77%, now at $337.66.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 49 days.
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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