Looking At Parker Hannifin's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Parker Hannifin PH.

And retail traders should know.

We noticed this today when the positions 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 PH, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 9 options trades for Parker Hannifin.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $36,000, and 8, calls, for a total amount of $1,184,676.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $570.0 for Parker Hannifin over the last 3 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 Parker Hannifin'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 Parker Hannifin's whale activity within a strike price range from $400.0 to $570.0 in the last 30 days.

Parker Hannifin Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Parker Hannifin

Parker Hannifin is an industrial conglomerate operating through two segments: diversified industrial, which serves a variety of end markets, and aerospace systems, which sells engine and actuation components. The diversified industrial segment consists of six groups, including engineered materials (sealing devices), filtration (filters and systems monitoring and removing contaminants from liquids and gases), fluid connectors (valves, couplings, and other fittings), instrumentation (flow manufacturing components and fluid control applications), and motion systems (hydraulic, pneumatic, and electromechanical components in industrial machinery and equipment). The segment boasts 17,100 independent distributors, and about 40% of its business occurs outside the United States.

Following our analysis of the options activities associated with Parker Hannifin, we pivot to a closer look at the company's own performance.

Current Position of Parker Hannifin

• With a trading volume of 1,415,671, the price of PH is up by 10.84%, reaching $568.08.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 0 days from now.

What The Experts Say On Parker Hannifin

2 market experts have recently issued ratings for this stock, with a consensus target price of $606.5.

• An analyst from Wells Fargo persists with their Overweight rating on Parker Hannifin, maintaining a target price of $600.
• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Parker Hannifin, targeting a price of $613.

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 Parker Hannifin with Benzinga Pro for real-time alerts.