Behind the Scenes of Eaton Corp's Latest Options Trends

Financial giants have made a conspicuous bearish move on Eaton Corp. Our analysis of options history for Eaton Corp ETN revealed 9 unusual trades.

Delving into the details, we found 11% of traders were bullish, while 77% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $787,991, and 3 were calls, valued at $134,170.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $240.0 to $410.0 for Eaton Corp over the recent three months.

Volume & Open Interest Development

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 $240.0 to $410.0 in the last 30 days.

Eaton Corp Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

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

Present Market Standing of Eaton Corp

• Trading volume stands at 1,455,024, with ETN's price down by -3.97%, positioned at $276.31.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 54 days.

Professional Analyst Ratings for Eaton Corp

In the last month, 4 experts released ratings on this stock with an average target price of $333.0.

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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. * Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Eaton Corp, targeting a price of $325. * An analyst from Wells Fargo persists with their Equal-Weight rating on Eaton Corp, maintaining a target price of $305. * An analyst from RBC Capital has decided to maintain their Outperform rating on Eaton Corp, which currently sits at a price target of $376. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Eaton Corp with a target price of $326.

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.