A whale with a lot of money to spend has taken a noticeably bearish stance on Caterpillar.
Looking at options history for Caterpillar CAT we detected 15 strange trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $595,390 and 4, calls, for a total amount of $189,777.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $230.0 to $300.0 for Caterpillar over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Caterpillar options trades today is 1080.55 with a total volume of 3,340.00.
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 $300.0 over the last 30 days.
Caterpillar Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CAT | PUT | SWEEP | BEARISH | 09/29/23 | $300.00 | $142.0K | 0 | 50 |
| CAT | PUT | SWEEP | BULLISH | 09/15/23 | $260.00 | $91.5K | 2.9K | 550 |
| CAT | CALL | SWEEP | BEARISH | 09/29/23 | $285.00 | $89.1K | 42 | 240 |
| CAT | PUT | SWEEP | BULLISH | 10/20/23 | $230.00 | $82.6K | 288 | 622 |
| CAT | PUT | SWEEP | BULLISH | 08/25/23 | $275.00 | $56.7K | 1.0K | 260 |
Where Is Caterpillar Standing Right Now?
- With a volume of 1,109,298, the price of CAT is down -1.3% at $270.25.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 66 days.
What The Experts Say On Caterpillar:
- JP Morgan has decided to maintain their Overweight rating on Caterpillar, which currently sits at a price target of $315.
- Baird has decided to maintain their Underperform rating on Caterpillar, which currently sits at a price target of $234.
- B of A Securities has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $323.
- Goldman Sachs has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $315.
- Wells Fargo has decided to maintain their Equal-Weight rating on Caterpillar, which currently sits at a price target of $285.
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 Caterpillar, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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