An investor with significant funds has taken a bullish position in Caterpillar CAT, a development that retail traders should be aware of. This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of this investor remains a mystery, but such a major move in CAT usually indicates foreknowledge of upcoming events. Today, Benzinga's options scanner identified 20 options transactions for Caterpillar. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 70% being bullish and 30% bearish. Of all the options we discovered, 19 are puts, valued at $1,088,539, and there was a single call, worth $29,546.
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 $230.0 and $250.0 for Caterpillar, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Caterpillar options trades today is 2091.25 with a total volume of 6,915.00.
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 $230.0 to $250.0 over the last 30 days.
Caterpillar Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CAT | PUT | SWEEP | BULLISH | 01/19/24 | $250.00 | $96.3K | 2.2K | 25 |
| CAT | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $78.3K | 1.6K | 327 |
| CAT | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $66.5K | 1.6K | 382 |
| CAT | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $66.5K | 1.6K | 327 |
| CAT | PUT | SWEEP | BEARISH | 01/19/24 | $240.00 | $66.4K | 1.6K | 519 |
Where Is Caterpillar Standing Right Now?
- With a volume of 1,268,181, the price of CAT is down -1.22% at $235.38.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 84 days.
What The Experts Say On Caterpillar:
- Consistent in their evaluation, JP Morgan keeps a Overweight rating on Caterpillar with a target price of $320.
- Goldman Sachs persists with their Buy rating on Caterpillar, maintaining a target price of $274.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Caterpillar with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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