Whales with a lot of money to spend have taken a noticeably bullish 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 50% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $126,690 and 5, calls, for a total amount of $349,579.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $260.0 to $300.0 for Eaton Corp over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Eaton Corp options trades today is 931.33 with a total volume of 1,452.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Eaton Corp's big money trades within a strike price range of $260.0 to $300.0 over the last 30 days.
Eaton Corp Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ETN | CALL | TRADE | BEARISH | 01/17/25 | $28.5 | $28.1 | $28.1 | $290.00 | $129.2K | 294 | 53 |
| ETN | CALL | TRADE | NEUTRAL | 10/18/24 | $16.0 | $15.7 | $15.87 | $290.00 | $79.3K | 461 | 197 |
| ETN | PUT | TRADE | BULLISH | 09/20/24 | $7.2 | $6.7 | $6.9 | $290.00 | $69.0K | 2.1K | 106 |
| ETN | CALL | SWEEP | BULLISH | 09/20/24 | $3.4 | $3.0 | $3.4 | $300.00 | $64.9K | 2.3K | 557 |
| ETN | CALL | SWEEP | BULLISH | 09/20/24 | $3.0 | $2.8 | $3.0 | $300.00 | $45.0K | 2.3K | 365 |
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.
Following our analysis of the options activities associated with Eaton Corp, we pivot to a closer look at the company's own performance.
Present Market Standing of Eaton Corp
- Trading volume stands at 1,383,116, with ETN's price up by 3.03%, positioned at $297.04.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 48 days.
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.
