Deep-pocketed investors have adopted a bullish approach towards Caterpillar (NYSE:CAT), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CAT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Caterpillar. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $188,985, and 6 are calls, amounting to $225,314.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $350.0 and $420.0 for Caterpillar, spanning the last three months.
Insights into Volume & Open Interest
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 Caterpillar'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 Caterpillar's whale activity within a strike price range from $350.0 to $420.0 in the last 30 days.
Caterpillar 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | PUT | TRADE | BULLISH | 11/15/24 | $5.05 | $5.0 | $5.0 | $350.00 | $103.0K | 2.0K | 255 |
| CAT | CALL | TRADE | BULLISH | 10/04/24 | $27.05 | $25.6 | $27.05 | $360.00 | $67.6K | 171 | 38 |
| CAT | PUT | SWEEP | BULLISH | 12/20/24 | $21.7 | $19.6 | $20.77 | $390.00 | $51.9K | 3 | 48 |
| CAT | CALL | SWEEP | BEARISH | 10/18/24 | $4.4 | $4.35 | $4.35 | $400.00 | $43.4K | 3.5K | 1.6K |
| CAT | PUT | TRADE | NEUTRAL | 10/18/24 | $3.55 | $3.25 | $3.4 | $370.00 | $34.0K | 348 | 105 |
About Caterpillar
Caterpillar is the top manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world's largest manufacturer of heavy equipment. The company is divided into four reportable segments: construction industries, resource industries, energy and transportation, and Cat Financial. Its products are available through a dealer network that covers the globe with about 2,700 branches maintained by 160 dealers. Cat Financial provides retail financing for machinery and engines to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Caterpillar product sales.
In light of the recent options history for Caterpillar, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Caterpillar Standing Right Now?
- With a trading volume of 143,745, the price of CAT is up by 3.06%, reaching $382.51.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 35 days from now.
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