Unpacking the Latest Options Trading Trends in Eaton Corp

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 9 trades.

If we consider the specifics of each trade, it is accurate to state that 77% of the investors opened trades with bullish expectations and 22% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $273,570 and 3, calls, for a total amount of $106,950.

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 $240.0 to $410.0 for Eaton Corp over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Eaton Corp options trades today is 94.2 with a total volume of 87.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Eaton Corp's big money trades within a strike price range of $240.0 to $410.0 over the last 30 days.

Eaton Corp Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Eaton Corp's Current Market Status

• Currently trading with a volume of 512,685, the ETN's price is up by 1.97%, now at $289.29.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 46 days.

Expert Opinions on Eaton Corp

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $336.4.

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. * An analyst from RBC Capital has decided to maintain their Outperform rating on Eaton Corp, which currently sits at a price target of $376. * An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Eaton Corp, which currently sits at a price target of $326. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Eaton Corp, targeting a price of $305. * An analyst from Jefferies persists with their Buy rating on Eaton Corp, maintaining a target price of $335. * In a positive move, an analyst from Keybanc has upgraded their rating to Overweight and adjusted the price target to $340.

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 Eaton Corp, Benzinga Pro gives you real-time options trades alerts.