Smart Money Is Betting Big In ETN Options

Whales with a lot of money to spend have taken a noticeably bearish stance on Eaton Corp.

Looking at options history for Eaton Corp ETN we detected 15 trades.

If we consider the specifics of each trade, it is accurate to state that 26% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $160,255 and 10, calls, for a total amount of $564,750.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $240.0 to $410.0 for Eaton Corp during the past quarter.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $240.0 to $410.0 in the last 30 days.

Eaton Corp Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

Having examined the options trading patterns of Eaton Corp, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Eaton Corp

• Currently trading with a volume of 2,511,069, the ETN's price is down by -2.06%, now at $283.87.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 63 days.

What Analysts Are Saying About Eaton Corp

In the last month, 4 experts released ratings on this stock with an average target price of $359.75.

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. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Eaton Corp with a target price of $326. * An analyst from RBC Capital persists with their Outperform rating on Eaton Corp, maintaining a target price of $405. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Eaton Corp, targeting a price of $335. * An analyst from Melius Research downgraded its action to Hold with a price target of $373.

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 Eaton Corp options trades with real-time alerts from Benzinga Pro.