High Options Trading Volume Noted for PAG, HD, and COOP

A recent report highlights significant options trading activity for Penske Automotive Group Inc, Home Depot Inc, and Mr Cooper Group Inc. This surge in activity could indicate potential movements in their stock prices as traders react to market conditions.

Date: 11-09-2024

AI Rating: 5

The report indicates notable options trading volume for multiple companies, specifically Penske Automotive Group Inc (Symbol: PAG), Home Depot Inc (Symbol: HD), and Mr Cooper Group Inc (Symbol: COOP). High trading volumes in options can suggest investor sentiment and potential price movements.

Penske Automotive Group Inc (PAG): The report details that 600 contracts have traded so far, covering approximately 60,000 underlying shares, which is about 41.9% of PAG's average daily trading volume. A particular interest is noted for the $135 strike put option expiring October 18, 2024, with 132 contracts exchanged, indicating possible bearish sentiment among traders, as puts are generally bought when anticipating a decline in stock price.

Home Depot Inc (HD): A substantial 14,006 contracts have been traded, equaling around 1.4 million underlying shares, or 41.2% of its recent average daily volume. The $380 strike call option expiring September 13, 2024, shows significant activity with 3,219 contracts, suggesting bullish sentiment among traders, indicating they expect the stock to rise.

Mr Cooper Group Inc (COOP): Trading volume here stands at 1,202 contracts for approximately 120,200 underlying shares, making up about 40.3% of COOP's average daily volume. The focus on the $85 strike put option expiring December 19, 2025, with 1,000 contracts traded, might point to a cautious outlook from investors regarding this stock.

Overall, the variations in options activity across these three companies signal differing investor sentiments, which can lead to fluctuations in stock prices. The substantial call options for HD may indicate confidence in stock growth, while the put options in PAG and COOP might reflect concerns, potentially leading to a downward price movement for those stocks.

Stocks: PAG HD COOP