Investors with a lot of money to spend have taken a bullish stance on Home Depot (NYSE:HD).
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 HD, 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 9 uncommon options trades for Home Depot.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $3,444,308, and 2 are calls, for a total amount of $79,600.
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 $340.0 to $425.0 for Home Depot over the last 3 months.
Insights into Volume & Open Interest
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 $340.0 to $425.0, over the past month.
Home Depot Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD | PUT | TRADE | BEARISH | 02/21/25 | $6.15 | $4.75 | $5.85 | $360.00 | $2.9M | 345 | 5.5K |
| HD | PUT | SWEEP | BULLISH | 02/21/25 | $6.4 | $5.95 | $5.95 | $360.00 | $297.5K | 345 | 501 |
| HD | PUT | SWEEP | BEARISH | 01/10/25 | $5.05 | $4.8 | $4.8 | $375.00 | $84.8K | 29 | 179 |
| HD | CALL | TRADE | BULLISH | 01/15/27 | $75.0 | $72.5 | $75.0 | $360.00 | $45.0K | 39 | 0 |
| HD | PUT | SWEEP | BULLISH | 12/20/24 | $12.75 | $10.4 | $10.4 | $397.50 | $43.5K | 199 | 53 |
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 the recent tie-up with SRS will help grow professional demand in roofing, pool and landscaping projects.
Having examined the options trading patterns of Home Depot, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Home Depot Standing Right Now? Currently trading with a volume of 1,209,903, the HD's price is up by 0.39%, now at $386.51. RSI readings suggest the stock is currently may be oversold. Anticipated earnings release is in 67 days.
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.
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.
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