Investors with a lot of money to spend have taken a bearish stance on Home Depot ( HD ) .

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with HD, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Home Depot ( HD ).

This isn't normal.

The overall sentiment of these big-money traders is split between 36% bullish and 54%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $197,223, and 6 are calls, for a total amount of $234,420.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $280.0 to $445.0 for Home Depot ( HD ) during the past quarter.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Home Depot's ( HD ) options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Home Depot's ( HD ) whale trades within a strike price range from $280.0 to $445.0 in the last 30 days.

Home Depot Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Home Depot

Home Depot ( HD ) is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the US, Canada, and Mexico. Its stores offer numerous building materials, home improvement products, lawn and garden products, and decor products and provide various services, including home improvement installation services and tool and equipment rentals. The acquisition of Interline Brands in 2015 allowed Home Depot ( HD ) to enter the MRO business, which has been expanded through the tie-up with HD Supply (2020). The additions of the Company Store brought textiles to the lineup, and Redi Carpet added multifamily flooring, while the recent tie-up with SRS will help grow professional demand.

Present Market Standing of Home Depot

With a trading volume of 920,931, the price of HD is down by -0.41%, reaching $391.0.

Current RSI values indicate that the stock is may be approaching oversold.

Next earnings report is scheduled for 8 days from now.

Professional Analyst Ratings for Home Depot

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $457.4.

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* An analyst from Morgan Stanley persists with their Overweight rating on Home Depot ( HD ), maintaining a target price of $450.

* Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Home Depot ( HD ) with a target price of $460.

* Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on Home Depot ( HD ) with a target price of $466.

* An analyst from Loop Capital upgraded its action to Buy with a price target of $460.

* In a cautious move, an analyst from Bernstein downgraded its rating to Market Perform, setting a price target of $451.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Home Depot ( HD ) with Benzinga Pro for real-time alerts.