Looking At Eaton Corp's Recent Unusual Options Activity

Financial giants have made a conspicuous bullish move on Eaton Corp. Our analysis of options history for Eaton Corp ETN revealed 9 unusual trades.

Delving into the details, we found 55% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $190,916, and 3 were calls, valued at $297,946.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $240.0 to $350.0 for Eaton Corp over the recent three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Eaton Corp's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Eaton Corp's significant trades, within a strike price range of $240.0 to $350.0, over the past month.

Eaton Corp Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About Eaton Corp

Founded in 1911 by Joseph Eaton, the eponymous company began by selling truck axles in New Jersey. Eaton has since become an industrial powerhouse largely through acquisitions in various end markets. Eaton's portfolio can broadly be divided into two parts: its electrical and industrial businesses. Its electrical portfolio (representing around 70% of company revenue) sells components within data centers, utilities, and commercial and residential buildings, while its industrial business (30% of revenue) sells components within commercial and passenger vehicles and aircraft. Eaton receives favorable tax treatment as a domiciliary of Ireland, but it generates over half of its revenue within the US.

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

Eaton Corp's Current Market Status

• With a trading volume of 1,446,831, the price of ETN is up by 2.76%, reaching $301.69.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 61 days from now.

Professional Analyst Ratings for Eaton Corp

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $334.5.

• An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Eaton Corp, which currently sits at a price target of $333.
• An analyst from Barclays has decided to maintain their Equal-Weight rating on Eaton Corp, which currently sits at a price target of $319.
• An analyst from RBC Capital has decided to maintain their Outperform rating on Eaton Corp, which currently sits at a price target of $371.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Eaton Corp, targeting a price of $315.

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 Eaton Corp, Benzinga Pro gives you real-time options trades alerts.