Looking At Home Depot's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Home Depot HD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HD usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Home Depot. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 30% leaning bullish and 70% bearish. Among these notable options, 7 are puts, totaling $779,692, and 3 are calls, amounting to $226,800.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $170.0 and $330.0 for Home Depot, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Home Depot's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Home Depot's substantial trades, within a strike price spectrum from $170.0 to $330.0 over the preceding 30 days.

Home Depot Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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 United States, Canada, and Mexico. Its stores offer numerous 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 distributor Interline Brands in 2015 allowed Home Depot to enter the maintenance, repair, and operations business, which has been expanded through the tie-up with HD Supply (2020). Moreover, the additions of the Company Store brought textile exposure to the lineup, while Redi Carpet added multifamily flooring.

Home Depot's Current Market Status

• With a volume of 985,248, the price of HD is up 0.57% at $289.5.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 4 days.

Professional Analyst Ratings for Home Depot

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $314.0.

• An analyst from Telsey Advisory Group persists with their Market Perform rating on Home Depot, maintaining a target price of $325.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $303.

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.