Looking At Caterpillar's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Caterpillar (NYSE:CAT), with a bearish stance being taken by a whale investor. Of the 15 strange trades detected, 46% were bullish and 53% were bearish. The total amount for puts was $595,390 and for calls was $189,777. Whales have been targeting a price range from $230.0 to $300.0 for Caterpillar over the last 3 months. The current price of CAT is down -1.3% at $270.25. Various financial institutions have maintained their ratings on Caterpillar, with price targets ranging from $234 to $323.
August 21, 2023 | 4:30 pm
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NEGATIVE IMPACT
Caterpillar has seen unusual options activity, with a bearish stance taken by a whale investor. The current price is down -1.3% at $270.25. Price targets from various financial institutions range from $234 to $323.
The bearish stance taken by a whale investor in Caterpillar options indicates a potential downward trend in the short term. This, coupled with the current price drop of -1.3%, suggests a negative impact on the stock. However, the maintained ratings and varied price targets from financial institutions could provide some stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100