Looking At Caterpillar's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Caterpillar (NYSE:CAT), with 57% of recent trades being bearish and 42% bullish. The trades have targeted a price range of $210 to $270 for Caterpillar over the last 3 months. The current price of CAT is $255.15, up 0.91%, and RSI indicators suggest the stock may be approaching overbought. DA Davidson has downgraded its action to Neutral with a price target of $263.
July 12, 2023 | 3:48 pm
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NEGATIVE IMPACT
Bearish stance taken on Caterpillar with majority of recent trades being bearish. The stock may be approaching overbought according to RSI indicators.
The bearish stance taken by a significant investor, along with the RSI indicators suggesting the stock may be overbought, could potentially lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100