Financial giants have made a conspicuous bullish move on Eaton Corp. Our analysis of options history for Eaton Corp (NYSE:ETN) revealed 15 unusual trades.
Delving into the details, we found 53% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 12 were puts, with a value of $1,375,862, and 3 were calls, valued at $296,725.
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 $195.0 and $380.0 for Eaton Corp, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Eaton Corp stands at 1256.33, with a total volume reaching 3,341.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Eaton Corp, situated within the strike price corridor from $195.0 to $380.0, throughout the last 30 days.
Eaton Corp 30-Day Option Volume & Interest Snapshot
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 | BULLISH | 07/19/24 | $7.7 | $6.9 | $6.98 | $320.00 | $538.2K | 2.3K | 626 |
| ETN | PUT | TRADE | BULLISH | 07/19/24 | $6.5 | $6.2 | $6.2 | $310.00 | $310.0K | 3.8K | 40 |
| ETN | CALL | TRADE | BULLISH | 01/17/25 | $9.0 | $8.6 | $9.0 | $380.00 | $165.6K | 96 | 0 |
| ETN | PUT | SWEEP | BULLISH | 06/20/25 | $23.5 | $21.0 | $21.0 | $290.00 | $151.2K | 3 | 0 |
| ETN | CALL | TRADE | BULLISH | 01/17/25 | $125.0 | $122.5 | $125.0 | $195.00 | $100.0K | 446 | 0 |
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.
Present Market Standing of Eaton Corp
- With a trading volume of 843,968, the price of ETN is down by -0.32%, reaching $312.95.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 32 days from now.
Professional Analyst Ratings for Eaton Corp
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $375.0.
- Reflecting concerns, an analyst from Raymond James lowers its rating to Outperform with a new price target of $375.
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.