Deep-pocketed investors have adopted a bullish approach towards Caterpillar CAT, 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 CAT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 37 extraordinary options activities for Caterpillar. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 37% bearish. Among these notable options, 27 are puts, totaling $1,500,376, and 10 are calls, amounting to $607,804.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $360.0 for Caterpillar during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Caterpillar options trades today is 437.0 with a total volume of 3,914.00.
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 $300.0 to $360.0 over the last 30 days.
Caterpillar Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | PUT | SWEEP | BEARISH | 07/19/24 | $10.25 | $9.9 | $10.25 | $340.00 | $255.2K | 1.3K | 3 |
| CAT | CALL | TRADE | NEUTRAL | 09/20/24 | $24.95 | $24.2 | $24.64 | $320.00 | $81.3K | 481 | 3 |
| CAT | PUT | SWEEP | BEARISH | 07/19/24 | $10.6 | $10.55 | $10.6 | $340.00 | $74.2K | 1.3K | 254 |
| CAT | CALL | SWEEP | BULLISH | 09/20/24 | $24.85 | $24.35 | $24.7 | $320.00 | $74.0K | 481 | 155 |
| CAT | CALL | SWEEP | BEARISH | 09/20/24 | $25.1 | $24.55 | $24.56 | $320.00 | $73.6K | 481 | 207 |
About Caterpillar
Caterpillar is the top manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world's largest manufacturer of heavy equipment. The company is divided into four reportable segments: construction industries, resource industries, energy and transportation, and Cat Financial. Its products are available through a dealer network that covers the globe with about 2,700 branches maintained by 160 dealers. Cat Financial provides retail financing for machinery and engines to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Caterpillar product sales.
Caterpillar's Current Market Status
- With a trading volume of 1,528,097, the price of CAT is up by 1.42%, reaching $332.11.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 32 days from now.
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 Caterpillar with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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