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 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $156,646 and 12, calls, for a total amount of $402,986.
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 $210.0 to $300.0 for Caterpillar over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Caterpillar options trades today is 1951.43 with a total volume of 525.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Caterpillar's big money trades within a strike price range of $210.0 to $300.0 over 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 | SWEEP | BEARISH | 09/15/23 | $250.00 | $55.4K | 243 | 98 |
| CAT | PUT | TRADE | NEUTRAL | 09/15/23 | $250.00 | $51.1K | 243 | 78 |
| CAT | CALL | TRADE | NEUTRAL | 01/17/25 | $300.00 | $45.3K | 696 | 60 |
| CAT | CALL | TRADE | BULLISH | 08/18/23 | $220.00 | $44.0K | 3.7K | 16 |
| CAT | CALL | TRADE | NEUTRAL | 07/07/23 | $210.00 | $35.7K | 96 | 20 |
Where Is Caterpillar Standing Right Now?
- With a volume of 732,718, the price of CAT is up 0.6% at $245.72.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 32 days.
What The Experts Say On Caterpillar:
- Tigress Financial has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $282.
- DA Davidson downgraded its action to Neutral with a price target of $263
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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