A Closer Look at Home Depot's Options Market Dynamics

Deep-pocketed investors have adopted a bullish approach towards Home Depot HD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HD usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Home Depot. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $250,400, and 7 are calls, amounting to $438,534.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $145.0 and $385.0 for Home Depot, spanning the last three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Home Depot'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 Home Depot's whale trades within a strike price range from $145.0 to $385.0 in the last 30 days.

Home Depot Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
HD PUT SWEEP BULLISH 04/19/24 $4.45 $4.4 $4.4 $360.00 $176.4K 984 433
HD CALL TRADE BULLISH 06/21/24 $114.2 $112.1 $113.43 $250.00 $147.4K 127 13
HD CALL TRADE BULLISH 06/21/24 $10.15 $9.7 $10.0 $370.00 $100.0K 1.8K 10
HD CALL TRADE BULLISH 05/17/24 $216.0 $215.5 $216.0 $145.00 $43.2K 2 2
HD CALL TRADE NEUTRAL 04/12/24 $22.5 $19.9 $21.19 $342.50 $42.3K 9 1

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 United States, 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 distributor Interline Brands in 2015 allowed Home Depot to enter the maintenance, repair, and operations business, which has been expanded through the tie-up with HD Supply (2020). Moreover, the additions of the Company Store brought textile exposure to the lineup, while Redi Carpet added multifamily flooring.

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.

Home Depot's Current Market Status

  • Trading volume stands at 1,552,944, with HD's price down by -0.36%, positioned at $360.75.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 35 days.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Home Depot with Benzinga Pro for real-time alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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