Whales with a lot of money to spend have taken a noticeably bearish stance on Eaton Corp.
Looking at options history for Eaton Corp (NYSE:ETN) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $316,400 and 5, calls, for a total amount of $178,372.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $165.0 to $340.0 for Eaton Corp over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Eaton Corp's 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 Eaton Corp's whale activity within a strike price range from $165.0 to $340.0 in the last 30 days.
Eaton Corp Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ETN | PUT | SWEEP | BEARISH | 08/16/24 | $9.1 | $8.3 | $9.1 | $310.00 | $182.0K | 625 | 9 |
| ETN | PUT | TRADE | BEARISH | 09/20/24 | $16.5 | $16.1 | $16.4 | $320.00 | $98.3K | 497 | 42 |
| ETN | CALL | SWEEP | BEARISH | 07/19/24 | $89.5 | $86.6 | $86.6 | $240.00 | $43.3K | 116 | 0 |
| ETN | CALL | TRADE | BULLISH | 09/20/24 | $11.0 | $10.7 | $11.0 | $330.00 | $39.6K | 1.8K | 38 |
| ETN | CALL | TRADE | BULLISH | 07/19/24 | $3.8 | $3.5 | $3.8 | $320.00 | $38.0K | 3.1K | 182 |
About Eaton Corp
Eaton is a diversified power management company operating for over 100 years. The company operates through various segments, including electrical Americas, electrical global, aerospace, vehicle, and eMobility. Eaton's portfolio can broadly be divided into two halves. One part of its portfolio is housed under its industrial sector umbrella, which serves a large variety of end markets like commercial vehicles, general aviation, and trucks. The other portion is Eaton's electrical sector portfolio, which serves data centers, utilities, and the residential end market, among others. While the company receives favorable tax treatment with its Ireland domicile, most of its operations are in the US.
After a thorough review of the options trading surrounding Eaton Corp, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Eaton Corp Standing Right Now?
- With a volume of 1,286,164, the price of ETN is down -4.14% at $318.71.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 13 days.
Professional Analyst Ratings for Eaton Corp
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $359.3333333333333.
- An analyst from Raymond James has revised its rating downward to Outperform, adjusting the price target to $375.
- An analyst from Jefferies persists with their Buy rating on Eaton Corp, maintaining a target price of $385.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Eaton Corp, targeting a price of $318.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Eaton Corp options trades with real-time alerts from Benzinga Pro.