Decoding Home Depot's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bullish move on Home Depot. Our analysis of options history for Home Depot HD revealed 12 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $467,130, and 5 were calls, valued at $245,125.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $370.0 to $460.0 for Home Depot over the last 3 months.

Insights into 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 Home Depot'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 Home Depot's whale trades within a strike price range from $370.0 to $460.0 in the last 30 days.

Home Depot 30-Day Option Volume & Interest Snapshot

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 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 the 2024 tie-up with SRS will help grow professional demand in roofing, pool and landscaping projects.

Home Depot's Current Market Status

• Trading volume stands at 887,140, with HD's price down by -0.68%, positioned at $393.9.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 71 days.

What The Experts Say On Home Depot

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $452.8.

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. * An analyst from JP Morgan has decided to maintain their Overweight rating on Home Depot, which currently sits at a price target of $475. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Home Depot, targeting a price of $435. * An analyst from Truist Securities has decided to maintain their Buy rating on Home Depot, which currently sits at a price target of $437. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Home Depot, targeting a price of $450. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Home Depot, targeting a price of $467.

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 Home Depot with Benzinga Pro for real-time alerts.