Deep-pocketed investors have adopted a bearish approach towards Honeywell Intl HON, 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 HON usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Honeywell Intl. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 69% bearish. Among these notable options, 8 are puts, totaling $296,636, and 5 are calls, amounting to $172,040.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $165.0 to $220.0 for Honeywell Intl during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Honeywell Intl options trades today is 346.8 with a total volume of 1,860.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Honeywell Intl's big money trades within a strike price range of $165.0 to $220.0 over the last 30 days.
Honeywell Intl Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HON | PUT | SWEEP | BEARISH | 03/15/24 | $200.00 | $45.6K | 639 | 56 |
| HON | CALL | SWEEP | BULLISH | 01/17/25 | $220.00 | $43.6K | 439 | 45 |
| HON | PUT | SWEEP | BULLISH | 03/15/24 | $200.00 | $42.9K | 639 | 305 |
| HON | PUT | TRADE | BULLISH | 03/15/24 | $200.00 | $42.6K | 639 | 415 |
| HON | PUT | TRADE | BULLISH | 03/15/24 | $200.00 | $42.3K | 639 | 470 |
About Honeywell Intl
Honeywell traces its roots to 1885 with Albert Butz's firm, Butz-Thermo Electric Regulator, which produced a predecessor to the modern thermostat. Today, Honeywell is a global multi-industry behemoth with one of the largest installed bases of equipment. It operates through four business segments: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. In recent years, the firm has made several portfolio changes, including the addition of Intelligrated in 2016, as well as the spinoffs of Garrett Technologies and Resideo in 2018. In 2019, the firm launched Honeywell Forge, its enterprise performance management software solution that leverages the firm's domain expertise in buildings, airlines, and critical infrastructure.
After a thorough review of the options trading surrounding Honeywell Intl, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Honeywell Intl Standing Right Now?
- Currently trading with a volume of 1,094,629, the HON's price is up by 0.3%, now at $196.5.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 62 days.
Expert Opinions on Honeywell Intl
1 market experts have recently issued ratings for this stock, with a consensus target price of $210.0.
- An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $210.
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 Honeywell Intl, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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