Financial giants have made a conspicuous bullish move on Home Depot. Our analysis of options history for Home Depot HD revealed 18 unusual trades.
Delving into the details, we found 38% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $289,736, and 12 were calls, valued at $1,254,915.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $310.0 and $400.0 for Home Depot, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Home Depot options trades today is 534.75 with a total volume of 8,491.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Home Depot's big money trades within a strike price range of $310.0 to $400.0 over the last 30 days.
Home Depot Option Volume And Open Interest Over 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 | BEARISH | 09/20/24 | $1.69 | $1.52 | $1.57 | $390.00 | $785.0K | 2.2K | 5.0K |
| HD | PUT | SWEEP | NEUTRAL | 09/13/24 | $6.75 | $6.15 | $6.47 | $370.00 | $69.8K | 48 | 7 |
| HD | CALL | SWEEP | NEUTRAL | 10/18/24 | $13.0 | $12.8 | $12.94 | $370.00 | $64.6K | 372 | 70 |
| HD | CALL | SWEEP | BULLISH | 08/15/25 | $22.1 | $21.5 | $22.1 | $400.00 | $61.8K | 32 | 28 |
| HD | PUT | TRADE | NEUTRAL | 01/16/26 | $30.75 | $30.05 | $30.4 | $360.00 | $60.8K | 198 | 20 |
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 US, 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 Interline Brands in 2015 allowed Home Depot to enter the MRO business, which has been expanded through the tie-up with HD Supply (2020). The additions of the Company Store brought textiles to the lineup, and Redi Carpet added multifamily flooring, while the recent tie-up with SRS will help grow professional demand.
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
- Trading volume stands at 1,523,075, with HD's price up by 2.16%, positioned at $373.26.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 81 days.
What The Experts Say On Home Depot
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $382.8.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Home Depot, targeting a price of $425.
- An analyst from RBC Capital persists with their Sector Perform rating on Home Depot, maintaining a target price of $363.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Home Depot with a target price of $396.
- An analyst from Loop Capital has decided to maintain their Hold rating on Home Depot, which currently sits at a price target of $330.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Home Depot, targeting a price of $400.
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 Home Depot 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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