Financial giants have made a conspicuous bullish move on Caterpillar. Our analysis of options history for Caterpillar CAT revealed 12 unusual trades.
Delving into the details, we found 58% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $685,187, and 4 were calls, valued at $180,300.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $350.0 and $450.0 for Caterpillar, 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 Caterpillar's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Caterpillar's substantial trades, within a strike price spectrum from $350.0 to $450.0 over the preceding 30 days.
Caterpillar Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | PUT | SWEEP | BEARISH | 10/25/24 | $3.6 | $2.96 | $3.6 | $387.50 | $368.2K | 1.1K | 1.0K |
| CAT | PUT | SWEEP | BULLISH | 06/18/26 | $42.4 | $41.95 | $41.95 | $380.00 | $92.5K | 119 | 23 |
| CAT | PUT | SWEEP | BEARISH | 11/15/24 | $12.05 | $11.7 | $12.05 | $387.50 | $72.3K | 45 | 71 |
| CAT | CALL | SWEEP | BULLISH | 01/17/25 | $17.3 | $17.0 | $17.3 | $400.00 | $60.5K | 1.2K | 35 |
| CAT | CALL | TRADE | NEUTRAL | 01/15/27 | $45.9 | $44.0 | $45.0 | $450.00 | $45.0K | 20 | 10 |
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 volume of 939,399, the price of CAT is down -0.38% at $388.99.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
What Analysts Are Saying About Caterpillar
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $433.4.
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 B of A Securities has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $434. * An analyst from Citigroup persists with their Buy rating on Caterpillar, maintaining a target price of $445. * An analyst from Truist Securities has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $456. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Caterpillar, targeting a price of $500. * In a cautious move, an analyst from Morgan Stanley downgraded its rating to Underweight, setting a price target of $332.
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 Caterpillar 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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