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

Whales with a lot of money to spend have taken a noticeably bullish stance on Home Depot.

Looking at options history for Home Depot HD we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $411,086 and 5, calls, for a total amount of $405,100.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $337.5 and $400.0 for Home Depot, spanning the last three months.

Insights into 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 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 activity within a strike price range from $337.5 to $400.0 in the last 30 days.

Home Depot Call and Put Volume: 30-Day Overview

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.

Where Is Home Depot Standing Right Now?

• Currently trading with a volume of 1,699,056, the HD's price is up by 0.27%, now at $342.42.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 35 days.

What Analysts Are Saying About Home Depot

In the last month, 2 experts released ratings on this stock with an average target price of $404.5.

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 Piper Sandler keeps a Overweight rating on Home Depot with a target price of $418. * An analyst from Truist Securities persists with their Buy rating on Home Depot, maintaining a target price of $391.

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 Home Depot options trades with real-time alerts from Benzinga Pro.