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Investors with a lot of money to spend have taken a bullish stance on Eaton Corp (NYSE:ETN).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ETN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Eaton Corp.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $1,119,970, and 3 are calls, for a total amount of $117,705.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $330.0 for Eaton Corp during the past quarter.
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Eaton Corp's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Eaton Corp's whale activity within a strike price range from $270.0 to $330.0 in the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
ETN | PUT | TRADE | BULLISH | 10/18/24 | $10.5 | $10.4 | $10.4 | $300.00 | $358.8K | 902 | 717 |
ETN | PUT | SWEEP | BULLISH | 10/18/24 | $5.8 | $4.7 | $5.6 | $280.00 | $249.2K | 1.2K | 703 |
ETN | PUT | TRADE | BEARISH | 10/18/24 | $10.5 | $10.4 | $10.5 | $300.00 | $142.8K | 902 | 272 |
ETN | PUT | TRADE | BULLISH | 10/18/24 | $10.6 | $10.4 | $10.4 | $300.00 | $125.8K | 902 | 15 |
ETN | PUT | SWEEP | BEARISH | 10/18/24 | $7.9 | $7.8 | $7.9 | $290.00 | $116.1K | 802 | 173 |
Eaton is a diversified power management company operating for over 100 years. The company operates through various segments, including electrical Americas, electrical global, aerospace, vehicle, and eMobility. Eaton's portfolio can broadly be divided into two halves. One part of its portfolio is housed under its industrial sector umbrella, which serves a large variety of end markets like commercial vehicles, general aviation, and trucks. The other portion is Eaton's electrical sector portfolio, which serves data centers, utilities, and the residential end market, among others. While the company receives favorable tax treatment with its Ireland domicile, most of its operations are in the US.
Having examined the options trading patterns of Eaton Corp, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $324.4.
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 Eaton Corp, Benzinga Pro gives you real-time options trades alerts.
Posted In: ETN