Decoding Home Depot's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bearish move on Home Depot. Our analysis of options history for Home Depot HD revealed 15 unusual trades.

Delving into the details, we found 26% of traders were bullish, while 73% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $79,027, and 13 were calls, valued at $1,876,495.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $305.0 for Home Depot over the last 3 months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $150.0 to $305.0 in the last 30 days.

Home Depot 30-Day Option Volume & Interest Snapshot

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.

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

• Trading volume stands at 328,738, with HD's price down by -0.71%, positioned at $306.0.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 91 days.

Professional Analyst Ratings for Home Depot

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $327.2.

• 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 Telsey Advisory Group lowers its rating to Market Perform with a new price target of $325.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Home Depot with a target price of $340.
• An analyst from Stifel has decided to maintain their Hold rating on Home Depot, which currently sits at a price target of $306.
• An analyst from Guggenheim persists with their Buy rating on Home Depot, maintaining a target price of $340.

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.