Investors with significant funds have taken a bearish position in Honeywell Intl HON, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in HON usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 10 options transactions for Honeywell Intl. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 20% being bullish and 40% bearish. Of all the options we discovered, 9 are puts, valued at $439,572, and there was a single call, worth $43,385.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $180.0 and $215.0 for Honeywell Intl, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Honeywell Intl stands at 137.5, with a total volume reaching 899.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Honeywell Intl, situated within the strike price corridor from $180.0 to $215.0, throughout the last 30 days.
Honeywell Intl Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HON | PUT | TRADE | BULLISH | 10/18/24 | $11.1 | $10.8 | $10.8 | $210.00 | $59.4K | 51 | 150 |
| HON | PUT | SWEEP | NEUTRAL | 12/20/24 | $13.3 | $13.0 | $13.15 | $210.00 | $58.7K | 326 | 124 |
| HON | PUT | SWEEP | BEARISH | 12/20/24 | $12.9 | $12.7 | $12.9 | $210.00 | $51.5K | 326 | 79 |
| HON | PUT | SWEEP | BEARISH | 10/18/24 | $10.7 | $10.4 | $10.58 | $210.00 | $50.7K | 51 | 95 |
| HON | PUT | SWEEP | BEARISH | 12/20/24 | $12.9 | $12.6 | $12.81 | $210.00 | $49.8K | 326 | 39 |
About Honeywell Intl
Honeywell traces its roots to 1885 with Albert Butz's firm, Butz Thermo-Electric Regulator, which produced a predecessor to the modern thermostat. Other inventions by Honeywell include biodegradable detergent and autopilot. Today, Honeywell is a global multi-industry behemoth with one of the largest installed bases of equipment. It operates through four business segments: aerospace technologies (37% of 2023 company revenue), industrial automation (29%), energy and sustainability solutions (17%), and building automation (17%). Recently, Honeywell has made several portfolio changes to focus on fewer end markets and align with a set of secular growth trends. The firm is working diligently to expand its installed base, deriving 30% of its revenue from recurring aftermarket services.
After a thorough review of the options trading surrounding Honeywell Intl, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Honeywell Intl Standing Right Now?
- With a volume of 305,934, the price of HON is down -0.7% at $200.0.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 63 days.
Professional Analyst Ratings for Honeywell Intl
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $214.5.
- An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Honeywell Intl, which currently sits at a price target of $215.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on Honeywell Intl, which currently sits at a price target of $214.
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 Honeywell Intl 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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