Eaton Corp Unusual Options Activity For September 15
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Eaton Corp (NYSE:ETN) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 40% bullish and 60% bearish. The whales have been targeting a price range from $195.0 to $270.0 for Eaton Corp over the last 3 months. The current price of ETN is down -2.39% at $216.85. HSBC has maintained their Hold rating on Eaton Corp with a price target of $210.
September 15, 2023 | 4:18 pm
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Unusual options activity indicates a significant bearish stance on Eaton Corp. The sentiment among big-money traders is more bearish than bullish. The current price of ETN is down, and HSBC has maintained a Hold rating with a price target of $210.
The unusual options activity, which is heavily bearish, indicates that large investors are expecting the price of Eaton Corp to decrease. This, combined with the current downward trend in price and the Hold rating from HSBC, suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100