A whale with a lot of money to spend has taken a noticeably bearish stance on Home Depot.
Looking at options history for Home Depot HD we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $1,815,473 and 2, calls, for a total amount of $99,760.
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 $290.0 to $375.0 for Home Depot 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 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 trades within a strike price range from $290.0 to $375.0 in the last 30 days.
Home Depot 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 |
|---|---|---|---|---|---|---|---|---|
| HD | PUT | TRADE | BEARISH | 01/19/24 | $310.00 | $1.0M | 1.4K | 612 |
| HD | PUT | SWEEP | BULLISH | 06/21/24 | $350.00 | $325.0K | 242 | 0 |
| HD | PUT | SWEEP | BEARISH | 01/19/24 | $350.00 | $191.9K | 284 | 4 |
| HD | PUT | SWEEP | BEARISH | 01/19/24 | $310.00 | $85.5K | 1.4K | 681 |
| HD | PUT | SWEEP | BULLISH | 10/20/23 | $295.00 | $76.9K | 1.4K | 315 |
Where Is Home Depot Standing Right Now?
- With a volume of 1,032,107, the price of HD is down -0.85% at $299.6.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 43 days.
What The Experts Say On Home Depot:
- Evercore ISI Group has decided to maintain their Outperform rating on Home Depot, which currently sits at a price target of $370.
- Stifel downgraded its action to Hold with a price target of $350
- HSBC downgraded its action to Hold with a price target of $365
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 Home Depot, 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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