Caterpillar Unusual Options Activity For July 06
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Caterpillar (NYSE:CAT) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 27% bullish and 72% bearish. The whales have been targeting a price range from $220.0 to $260.0 for Caterpillar over the last 3 months. DA Davidson has downgraded its action to Neutral with a price target of $263.
July 06, 2023 | 4:46 pm
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Unusual options activity indicates a significant bearish stance on Caterpillar. The sentiment of big-money traders is largely bearish, with a target price range of $220.0 to $260.0.
The unusual options activity, with a significant bearish stance, indicates that large investors are expecting Caterpillar's stock price to decrease. This could lead to a short-term downward pressure on the stock. DA Davidson's downgrade to Neutral also suggests a lack of positive momentum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100