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Check Out What Whales Are Doing With Home Depot

Someone with a lot of money to spend has taken a bearish stance on Home Depot (NYSE:HD). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga · 12/29/2021 13:17

Someone with a lot of money to spend has taken a bearish stance on Home Depot (NYSE:HD).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 38 uncommon options trades for Home Depot.

This isn't normal.

The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.

Out of all of the special options we uncovered, 25 are puts, for a total amount of $787,930, and 13 are calls, for a total amount of $1,469,800.

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 $275.0 to $410.0 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 394.0 with a total volume of 5,888.00.

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 $275.0 to $410.0 over the last 30 days.

Home Depot Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
HD CALL TRADE BULLISH 06/17/22 $400.00 $441.0K 813 520
HD CALL TRADE BULLISH 06/17/22 $400.00 $156.0K 813 139
HD CALL TRADE BULLISH 06/17/22 $400.00 $131.0K 813 89
HD CALL TRADE BULLISH 06/17/22 $400.00 $126.0K 813 340
HD CALL TRADE BULLISH 06/17/22 $400.00 $126.0K 813 300

Where Is Home Depot Standing Right Now?

  • With a volume of 797,700, the price of HD is up 0.86% at $409.73.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 55 days.

What The Experts Say On Home Depot:

  • Oppenheimer upgraded its action to Outperform with a price target of $470

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.