Market Whales and Their Recent Bets on Home Depot Options

Deep-pocketed investors have adopted a bullish 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 8 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 75% leaning bullish and 25% bearish. Among these notable options, 2 are puts, totaling $100,000, and 6 are calls, amounting to $734,347.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $310.0 to $400.0 for Home Depot over the recent three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $310.0 to $400.0 in the last 30 days.

Home Depot Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

Present Market Standing of Home Depot

• Trading volume stands at 777,592, with HD's price up by 0.69%, positioned at $328.73.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 71 days.

What Analysts Are Saying About Home Depot

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $324.2.

• In a cautious move, an analyst from Telsey Advisory Group downgraded its rating to Market Perform, setting a price target of $325.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on Home Depot, which currently sits at a price target of $335.
• Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for Home Depot, targeting a price of $306.
• Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Home Depot, targeting a price of $356.
• An analyst from RBC Capital has decided to maintain their Sector Perform rating on Home Depot, which currently sits at a price target of $299.

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 Home Depot with Benzinga Pro for real-time alerts.