• Fri. Oct 7th, 2022

This Is What Whales Are Betting On Home Depot

ByBenzinga Insights

Aug 1, 2022
This Is What Whales Are Betting On Home Depot

A whale with a lot of money to spend has taken a noticeably bearish stance on Home Depot.

Looking at options history for Home Depot HD we detected 37 strange trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 59% with bearish.

From the overall spotted trades, 21 are puts, for a total amount of $1,571,995 and 16, calls, for a total amount of $690,909.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $230.0 to $350.0 for Home Depot over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Home Depot options trades today is 664.58 with a total volume of 3,774.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Home Depot’s big money trades within a strike price range of $230.0 to $350.0 over the last 30 days.

Home Depot Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 









Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
HD PUT TRADE BULLISH 10/21/22 $305.00 $387.2K 134 234
HD PUT TRADE BULLISH 01/20/23 $290.00 $226.0K 632 149
HD PUT TRADE BULLISH 10/21/22 $265.00 $108.5K 58 244
HD PUT TRADE BULLISH 09/16/22 $275.00 $105.0K 2.6K 323
HD PUT TRADE BULLISH 10/21/22 $285.00 $100.6K 27 204

Where Is Home Depot Standing Right Now?

  • With a volume of 2,355,952, the price of HD is up 2.07% at $307.16.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 15 days.

What The Experts Say On Home Depot:

  • Morgan Stanley has decided to maintain their Overweight rating on Home Depot, which currently sits at a price target of $350.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Home Depot, Benzinga Pro gives you real-time options trades alerts.



Image and article originally from www.benzinga.com. Read the original article here.