Whales with a lot of money to spend have taken a noticeably bullish stance on Eaton Corp.
Looking at options history for Eaton Corp ETN we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $459,593 and 5, calls, for a total amount of $255,971.
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 $310.0 to $350.0 for Eaton Corp over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Eaton Corp'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 Eaton Corp's whale trades within a strike price range from $310.0 to $350.0 in the last 30 days.
Eaton Corp Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ETN | PUT | TRADE | NEUTRAL | 01/17/25 | $6.1 | $5.6 | $5.83 | $310.00 | $277.5K | 604 | 476 |
| ETN | PUT | TRADE | BULLISH | 11/15/24 | $3.2 | $3.0 | $3.0 | $320.00 | $150.0K | 282 | 622 |
| ETN | CALL | SWEEP | BULLISH | 12/20/24 | $14.5 | $14.3 | $14.53 | $350.00 | $83.1K | 76 | 598 |
| ETN | CALL | SWEEP | NEUTRAL | 12/20/24 | $14.8 | $14.1 | $14.51 | $350.00 | $60.7K | 76 | 183 |
| ETN | CALL | SWEEP | BEARISH | 12/20/24 | $14.8 | $13.6 | $14.39 | $350.00 | $41.6K | 76 | 136 |
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.
In light of the recent options history for Eaton Corp, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Eaton Corp
- With a trading volume of 712,398, the price of ETN is down by -0.28%, reaching $344.6.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 1 days from now.
Expert Opinions on Eaton Corp
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $344.6666666666667.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Barclays has decided to maintain their Equal-Weight rating on Eaton Corp, which currently sits at a price target of $327. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Eaton Corp with a target price of $342. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Eaton Corp, targeting a price of $365.
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 Eaton Corp with Benzinga Pro for real-time alerts.
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