Looking At Caterpillar's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Caterpillar (NYSE:CAT), with 60% of recent trades being bearish and 40% bullish. The total amount for puts is $385,884 and for calls is $120,496. Whales have been targeting a price range from $120.0 to $420.0 for Caterpillar over the last 3 months. The current price of CAT is down -0.25% at $250.96. JP Morgan maintains their Overweight rating on Caterpillar with a price target of $320.
October 20, 2023 | 2:02 pm
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NEGATIVE IMPACT
Bearish stance taken on Caterpillar with 60% of recent trades being bearish. Whales target price range $120-$420. Current price down -0.25% at $250.96. JP Morgan maintains Overweight rating with $320 target.
The bearish stance taken by a significant investor, along with the current price drop, indicates a potential short-term negative impact on Caterpillar's stock. However, JP Morgan's maintained Overweight rating with a higher price target suggests a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100