Investors with a lot of money to spend have taken a bullish stance on Home Depot HD.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with HD, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 21 uncommon options trades for Home Depot.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 28%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $548,488, and 14 are calls, for a total amount of $705,768.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $300.0 and $470.0 for Home Depot, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Home Depot's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Home Depot's substantial trades, within a strike price spectrum from $300.0 to $470.0 over the preceding 30 days.
Home Depot Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD | PUT | SWEEP | BEARISH | 01/16/26 | $19.9 | $18.7 | $19.9 | $330.00 | $226.7K | 108 | 0 |
| HD | CALL | SWEEP | BULLISH | 09/20/24 | $13.8 | $13.5 | $13.7 | $375.00 | $146.3K | 1.1K | 32 |
| HD | PUT | TRADE | BULLISH | 08/16/24 | $2.65 | $2.52 | $2.52 | $345.00 | $126.0K | 2.0K | 16 |
| HD | CALL | SWEEP | BULLISH | 08/16/24 | $9.95 | $9.9 | $9.9 | $375.00 | $108.8K | 763 | 34 |
| HD | PUT | SWEEP | BEARISH | 07/19/24 | $2.1 | $1.96 | $2.1 | $367.50 | $67.8K | 324 | 865 |
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 US, 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 Interline Brands in 2015 allowed Home Depot to enter the MRO business, which has been expanded through the tie-up with HD Supply (2020). The additions of the Company Store brought textiles to the lineup, and Redi Carpet added multifamily flooring, while the recent tie-up with SRS helps grow professional demand.
In light of the recent options history for Home Depot, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Home Depot Standing Right Now?
- Currently trading with a volume of 1,609,927, the HD's price is down by -1.4%, now at $366.69.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 26 days.
What The Experts Say On Home Depot
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $387.5.
- An analyst from DA Davidson upgraded its action to Buy with a price target of $395.
- An analyst from Stifel persists with their Hold rating on Home Depot, maintaining a target price of $380.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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