Home Depot Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Home Depot (NYSE:HD) 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 $310.0 to $345.0 for Home Depot over the last 3 months. Evercore ISI Group has maintained their Outperform rating on Home Depot, with a price target of $370, while Stifel downgraded its action to Hold with a price target of $350.
September 19, 2023 | 3:16 pm
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Unusual options activity indicates a bearish stance on Home Depot. The sentiment of big-money traders is 27% bullish and 72% bearish, targeting a price range from $310.0 to $345.0.
The unusual options activity, with a majority being bearish, indicates that there is a significant expectation of a price drop in Home Depot's stock. This is further supported by the price target range of $310-$345, which is below the current price. However, analyst ratings from Evercore ISI Group and Stifel provide a mixed view.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100