A whale with a lot of money to spend has taken a noticeably bearish stance on Caterpillar.
Looking at options history for Caterpillar CAT we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $847,250 and 8, calls, for a total amount of $383,652.
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 $195.0 to $290.0 for Caterpillar over the last 3 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 Caterpillar'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 Caterpillar's whale trades within a strike price range from $195.0 to $290.0 in the last 30 days.
Caterpillar Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CAT | PUT | TRADE | BULLISH | 12/16/22 | $200.00 | $454.0K | 5.0K | 2.0K |
| CAT | CALL | TRADE | NEUTRAL | 01/20/23 | $220.00 | $94.4K | 9.6K | 50 |
| CAT | CALL | SWEEP | BEARISH | 12/16/22 | $195.00 | $93.8K | 4.0K | 104 |
| CAT | PUT | TRADE | BEARISH | 01/19/24 | $290.00 | $68.2K | 58 | 28 |
| CAT | PUT | TRADE | BULLISH | 01/19/24 | $290.00 | $68.2K | 58 | 18 |
Where Is Caterpillar Standing Right Now?
- With a volume of 894,126, the price of CAT is up 0.82% at $230.48.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 80 days.
What The Experts Say On Caterpillar:
- Deutsche Bank has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $196.
- Credit Suisse has decided to maintain their Outperform rating on Caterpillar, which currently sits at a price target of $255.
- Morgan Stanley has decided to maintain their Underweight rating on Caterpillar, which currently sits at a price target of $143.
- UBS downgraded its action to Neutral with a price target of $230
- Morgan Stanley has decided to maintain their Underweight rating on Caterpillar, which currently sits at a price target of $174.
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 Caterpillar, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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