Benzinga | Jan 10, 2022 03:38PM EST

What Are Whales Doing With Home Depot

A whale with a lot of money to spend has taken a noticeably bearish stance on Home Depot.

Looking at options history for Home Depot (NYSE:HD) we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $190,347 and 9, calls, for a total amount of $963,765.

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 $225.0 to $450.0 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 483.58 with a total volume of 1,865.00.

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 $225.0 to $450.0 over the last 30 days.

Home Depot Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestHD CALL SWEEP BEARISH 01/19/ $390.00 $265.5K 52 50 24HD CALL TRADE BULLISH 01/20/ $350.00 $226.4K 862 58 23HD CALL TRADE BULLISH 01/20/ $350.00 $113.3K 862 78 23HD CALL TRADE BEARISH 01/21/ $225.00 $109.7K 32 7 22HD CALL TRADE NEUTRAL 01/20/ $400.00 $96.4K 472 37 23

Where Is Home Depot Standing Right Now?

* With a volume of 4,106,273, the price of HD is down -2.24% at $384.78.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 43 days.

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.