Check Out What Whales Are Doing With Home Depot

Whales with a lot of money to spend have taken a noticeably bullish stance on Home Depot.

Looking at options history for Home Depot HD we detected 14 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $356,904 and 6, calls, for a total amount of $735,170.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $310.0 to $390.0 for Home Depot during the past quarter.

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 $390.0 in the last 30 days.

Home Depot Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding Home Depot, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Home Depot's Current Market Status

• With a trading volume of 795,786, the price of HD is down by -0.47%, reaching $337.0.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 46 days from now.

What Analysts Are Saying About Home Depot

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $367.5.

• An analyst from Barclays has elevated its stance to Overweight, setting a new price target at $372.
• An analyst from Truist Securities persists with their Buy rating on Home Depot, maintaining a target price of $356.
• An analyst from Truist Securities has decided to maintain their Buy rating on Home Depot, which currently sits at a price target of $387.
• An analyst from Stifel has decided to maintain their Hold rating on Home Depot, which currently sits at a price target of $355.

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.