Deep-pocketed investors have adopted a bearish approach towards Home Depot HD, 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 HD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 32 extraordinary options activities for Home Depot. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 15% leaning bullish and 59% bearish. Among these notable options, 17 are puts, totaling $934,382, and 15 are calls, amounting to $620,179.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $300.0 to $485.0 for Home Depot over the recent three months.
Insights into 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 Home Depot's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Home Depot's significant trades, within a strike price range of $300.0 to $485.0, over the past month.
Home Depot Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD | PUT | TRADE | BEARISH | 01/16/26 | $28.3 | $26.05 | $28.3 | $390.00 | $113.2K | 95 | 80 |
| HD | PUT | SWEEP | BEARISH | 01/17/25 | $20.3 | $20.05 | $20.3 | $420.00 | $101.5K | 258 | 295 |
| HD | PUT | TRADE | BULLISH | 01/15/27 | $52.2 | $49.25 | $50.0 | $420.00 | $100.0K | 11 | 20 |
| HD | CALL | TRADE | NEUTRAL | 11/22/24 | $8.3 | $7.85 | $8.1 | $405.00 | $81.0K | 141 | 142 |
| HD | PUT | SWEEP | BEARISH | 01/17/25 | $18.85 | $17.65 | $18.69 | $420.00 | $77.2K | 258 | 164 |
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.
Where Is Home Depot Standing Right Now?
- Trading volume stands at 2,454,009, with HD's price down by -0.85%, positioned at $404.81.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 0 days.
Expert Opinions on Home Depot
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $449.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Showing optimism, an analyst from Telsey Advisory Group upgrades its rating to Outperform with a revised price target of $455. * An analyst from DA Davidson has decided to maintain their Buy rating on Home Depot, which currently sits at a price target of $466. * An analyst from Telsey Advisory Group persists with their Outperform rating on Home Depot, maintaining a target price of $455. * Reflecting concerns, an analyst from Bernstein lowers its rating to Market Perform with a new price target of $451. * An analyst from Barclays has decided to maintain their Overweight rating on Home Depot, which currently sits at a price target of $420.
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 Home Depot, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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