Deep-pocketed investors have adopted a bearish approach towards Home Depot (NYSE:HD), 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 HD usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 30 extraordinary options activities for Home Depot. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 36% leaning bullish and 50% bearish. Among these notable options, 21 are puts, totaling $3,241,482, and 9 are calls, amounting to $331,783.

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 $260.0 to $435.0 for Home Depot during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Home Depot stands at 472.9, with a total volume reaching 3,277.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Home Depot, situated within the strike price corridor from $260.0 to $435.0, throughout the last 30 days.

Home Depot Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Home Depot

After a thorough review of the options trading surrounding Home Depot, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Home Depot

• Trading volume stands at 1,935,687, with HD's price down by -0.67%, positioned at $382.72.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 1 days.

What Analysts Are Saying About Home Depot

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $461.75.

Unusual Options Activity Detected: Smart Money on the Move

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.