Home Depot Unusual Options Activity For July 24
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Home Depot (NYSE:HD) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 36% bullish and 63% bearish. The whales have been targeting a price range from $200.0 to $345.0 for Home Depot over the last 3 months. Truist Securities has maintained their Buy rating on Home Depot, with a price target of $348.
July 24, 2023 | 4:31 pm
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Unusual options activity indicates a significant bearish stance on Home Depot. The sentiment of big-money traders is more bearish than bullish. However, Truist Securities maintains a Buy rating on the stock.
The unusual options activity, with a significant bearish stance, indicates that large investors are expecting Home Depot's stock price to decrease. This could put downward pressure on the stock in the short term. However, Truist Securities' maintained Buy rating suggests some analysts remain positive about the stock's prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100