Home Depot Unusual Options Activity For October 11
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Home Depot (NYSE:HD) by a whale investor. Out of the 10 unusual trades detected, 90% were bearish and 10% bullish. The total amount for puts was $141,980 and for calls was $496,088. The targeted price range for Home Depot over the last 3 months has been $180.0 to $315.0. The current price of HD is up 0.27% at $300.02. HSBC has downgraded its action to Hold with a price target of $365, while Telsey Advisory Group and Truist Securities maintain their Market Perform and Buy ratings respectively.
October 11, 2023 | 7:18 pm
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A whale investor has taken a significant bearish stance on Home Depot. The targeted price range for Home Depot over the last 3 months has been $180.0 to $315.0. The current price of HD is up 0.27% at $300.02. HSBC has downgraded its action to Hold with a price target of $365, while Telsey Advisory Group and Truist Securities maintain their Market Perform and Buy ratings respectively.
The bearish stance taken by a whale investor, along with the high percentage of bearish trades, indicates a potential downward pressure on Home Depot's stock price in the short term. However, the current price is up and the price targets set by HSBC, Telsey Advisory Group, and Truist Securities are above the current price, which may counteract some of the bearish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100