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Home Depot's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | July 10, 2024 02:47pm

Financial giants have made a conspicuous bearish move on Home Depot. Our analysis of options history for Home Depot (NYSE:HD) revealed 11 unusual trades.

Delving into the details, we found 18% of traders were bullish, while 54% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $66,470, and 9 were calls, valued at $2,331,617.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $300.0 to $370.0 for Home Depot over the recent three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Home Depot's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Home Depot's significant trades, within a strike price range of $300.0 to $370.0, over the past month.

Home Depot Option Activity Analysis: Last 30 Days

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
HD CALL TRADE BEARISH 03/21/25 $20.0 $19.35 $19.35 $360.00 $1.6M 107 0
HD CALL SWEEP BEARISH 03/21/25 $23.7 $23.65 $23.65 $350.00 $321.6K 342 10
HD CALL SWEEP BEARISH 07/26/24 $3.3 $3.15 $3.15 $350.00 $122.6K 636 137
HD CALL TRADE BEARISH 07/12/24 $1.22 $1.14 $1.15 $345.00 $80.4K 2.2K 1.0K
HD CALL SWEEP BULLISH 07/19/24 $5.55 $5.0 $5.0 $340.00 $48.0K 1.0K 10

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 helps 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.

Present Market Standing of Home Depot

  • Currently trading with a volume of 1,529,789, the HD's price is up by 1.35%, now at $341.63.
  • RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
  • Anticipated earnings release is in 34 days.

What The Experts Say On Home Depot

1 market experts have recently issued ratings for this stock, with a consensus target price of $395.0.

  • In a positive move, an analyst from DA Davidson has upgraded their rating to Buy and adjusted the price target to $395.

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.

Posted In: HD

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