Decoding Honeywell Intl's Options Activity: What's the Big Picture?

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 10 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 20% leaning bullish and 80% bearish. Among these notable options, 7 are puts, totaling $369,968, and 3 are calls, amounting to $326,333.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $170.0 to $210.0 for Honeywell Intl over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Honeywell Intl's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Honeywell Intl's significant trades, within a strike price range of $170.0 to $210.0, over the past month.

Honeywell Intl 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
HON CALL TRADE BEARISH 06/21/24 $210.00 $243.0K 1.7K 306
HON PUT SWEEP BEARISH 03/15/24 $210.00 $70.1K 0 414
HON PUT SWEEP BULLISH 03/15/24 $210.00 $59.4K 0 349
HON PUT SWEEP BEARISH 03/15/24 $210.00 $51.9K 0 95
HON CALL SWEEP BEARISH 01/19/24 $200.00 $50.6K 3.6K 240

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.

Following our analysis of the options activities associated with Honeywell Intl, we pivot to a closer look at the company's own performance.

Where Is Honeywell Intl Standing Right Now?

  • Trading volume stands at 1,142,290, with HON's price up by 0.71%, positioned at $201.82.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 51 days.

Expert Opinions on Honeywell Intl

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $210.0.

  • Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $210.

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 Honeywell Intl with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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