A Closer Look at Home Depot's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bullish stance on Home Depot.

Looking at options history for Home Depot HD we detected 19 trades.

If we consider the specifics of each trade, it is accurate to state that 73% of the investors opened trades with bullish expectations and 15% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $338,283 and 13, calls, for a total amount of $550,576.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $350.0 to $430.0 for Home Depot during the past quarter.

Volume & Open Interest Trends

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 $350.0 to $430.0 over the preceding 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 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 will help 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?

• With a volume of 1,364,067, the price of HD is up 1.21% at $413.0.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 35 days.

Expert Opinions on Home Depot

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $409.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Loop Capital persists with their Hold rating on Home Depot, maintaining a target price of $360. * Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Home Depot, targeting a price of $360. * Reflecting concerns, an analyst from Melius Research lowers its rating to Buy with a new price target of $420. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Home Depot, targeting a price of $455. * An analyst from Guggenheim has decided to maintain their Buy rating on Home Depot, which currently sits at a price target of $450.

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 Home Depot with Benzinga Pro for real-time alerts.