Deep-pocketed investors have adopted a bullish approach towards Caterpillar CAT, 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 CAT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Caterpillar. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 40% bearish. Among these notable options, 7 are puts, totaling $459,621, and 3 are calls, amounting to $421,977.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $270.0 and $370.0 for Caterpillar, 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 Caterpillar'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 Caterpillar's whale activity within a strike price range from $270.0 to $370.0 in the last 30 days.
Caterpillar Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | CALL | TRADE | NEUTRAL | 08/09/24 | $68.1 | $64.05 | $65.94 | $270.00 | $171.4K | 65 | 51 |
| CAT | CALL | TRADE | BULLISH | 08/09/24 | $66.95 | $64.1 | $65.94 | $270.00 | $164.8K | 65 | 25 |
| CAT | PUT | SWEEP | NEUTRAL | 06/18/26 | $63.3 | $61.8 | $61.8 | $370.00 | $123.5K | 187 | 20 |
| CAT | PUT | SWEEP | BULLISH | 08/30/24 | $4.75 | $4.3 | $4.39 | $320.00 | $86.1K | 217 | 200 |
| CAT | CALL | TRADE | BEARISH | 08/09/24 | $67.7 | $64.75 | $65.91 | $270.00 | $85.6K | 65 | 64 |
About Caterpillar
Caterpillar is the top manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world's largest manufacturer of heavy equipment. The company is divided into four reportable segments: construction industries, resource industries, energy and transportation, and Cat Financial. Its products are available through a dealer network that covers the globe with about 2,700 branches maintained by 160 dealers. Cat Financial provides retail financing for machinery and engines to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Caterpillar product sales.
In light of the recent options history for Caterpillar, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Caterpillar's Current Market Status
- With a trading volume of 378,609, the price of CAT is down by -0.36%, reaching $334.96.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 81 days from now.
Expert Opinions on Caterpillar
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $348.75.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Caterpillar with a target price of $335.
- Consistent in their evaluation, an analyst from UBS keeps a Sell rating on Caterpillar with a target price of $285.
- An analyst from B of A Securities has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $376.
- An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $399.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Caterpillar options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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