A Closer Look at Home Depot's Options Market Dynamics

Financial giants have made a conspicuous bearish move on Home Depot. Our analysis of options history for Home Depot HD revealed 36 unusual trades.

Delving into the details, we found 36% of traders were bullish, while 63% showed bearish tendencies. Out of all the trades we spotted, 26 were puts, with a value of $1,363,415, and 10 were calls, valued at $1,299,529.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $220.0 to $370.0 for Home Depot over the recent three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Home Depot stands at 370.5, with a total volume reaching 3,581.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Home Depot, situated within the strike price corridor from $220.0 to $370.0, throughout the last 30 days.

Home Depot Option Volume And Open Interest Over Last 30 Days

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

• Trading volume stands at 1,681,493, with HD's price down by 0.0%, positioned at $310.7.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 85 days.

What Analysts Are Saying About Home Depot

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $331.8.

• Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Home Depot with a target price of $299.
• Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for Home Depot, targeting a price of $340.
• An analyst from Telsey Advisory Group has decided to maintain their Market Perform rating on Home Depot, which currently sits at a price target of $325.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Home Depot with a target price of $335.
• An analyst from Oppenheimer downgraded its action to Outperform with a price target of $360.

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.