Decoding Eaton Corp's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bullish move on Eaton Corp. Our analysis of options history for Eaton Corp ETN revealed 15 unusual trades.

Delving into the details, we found 33% of traders were bullish, while 20% showed bearish tendencies. Out of all the trades we spotted, 12 were puts, with a value of $1,146,398, and 3 were calls, valued at $106,625.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $245.0 and $410.0 for Eaton Corp, spanning the last three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Eaton Corp’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Eaton Corp’s significant trades, within a strike price range of $245.0 to $410.0, over the past month.

Eaton Corp Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Eaton Corp

Founded in 1911 by Joseph Eaton, the eponymous company began by selling truck axles in New Jersey. Eaton has since become an industrial powerhouse largely through acquisitions in various end markets. Eaton’s portfolio can broadly be divided into two parts: its electrical and industrial businesses. Its electrical portfolio (representing around 70% of company revenue) sells components within data centers, utilities, and commercial and residential buildings, while its industrial business (30% of revenue) sells components within commercial and passenger vehicles and aircraft. Eaton receives favorable tax treatment as a domiciliary of Ireland, but it generates over half of its revenue within 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.

Present Market Standing of Eaton Corp

• With a trading volume of 2,257,446, the price of ETN is down by -4.9%, reaching $248.06.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 25 days from now.

Expert Opinions on Eaton Corp

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $334.4.

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* Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Eaton Corp with a target price of $315.
* An analyst from Keybanc has elevated its stance to Overweight, setting a new price target at $340.
* An analyst from Jefferies has decided to maintain their Buy rating on Eaton Corp, which currently sits at a price target of $335.
* An analyst from Barclays has decided to maintain their Equal-Weight rating on Eaton Corp, which currently sits at a price target of $306.
* An analyst from RBC Capital persists with their Outperform rating on Eaton Corp, maintaining a target price of $376.

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 Eaton Corp with Benzinga Pro for real-time alerts.