Behind the Scenes of Home Depot's Latest Options Trends

Financial giants have made a conspicuous bearish move on Home Depot. Our analysis of options history for Home Depot HD revealed 9 unusual trades.

Delving into the details, we found 22% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $235,030, and 5 were calls, valued at $172,240.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $400.0 for Home Depot over the last 3 months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Home Depot's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Home Depot's substantial trades, within a strike price spectrum from $300.0 to $400.0 over the preceding 30 days.

Home Depot Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

After a thorough review of the options trading surrounding Home Depot, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Home Depot Standing Right Now?

• With a volume of 991,737, the price of HD is down -1.71% at $364.51.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 62 days.

Expert Opinions 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 $365.6.

• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Home Depot, targeting a price of $400.
• An analyst from Stifel has decided to maintain their Hold rating on Home Depot, which currently sits at a price target of $375.
• 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 Telsey Advisory Group keeps a Market Perform rating on Home Depot with a target price of $360.
• Consistent in their evaluation, an analyst from Loop Capital keeps a Hold rating on Home Depot with a target price of $330.

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.