Home Depot Bears Load Up on Puts as HD Stock Trades Near 52-Week Lows

By TrendSpider Editor

Home Depot, Inc. (HD) is drawing notable bearish attention in the options market on Friday, July 31, 2026, with two large put contracts accounting for the lion's share of $3,824,758 in total unusual options premium detected across four contracts. HD shares are currently trading at $331.84, down 0.45

Home Depot Bears Load Up on Puts as HD Stock Trades Near 52-Week Lows

Home Depot, Inc. (HD) is drawing notable bearish attention in the options market on Friday, July 31, 2026, with two large put contracts accounting for the lion's share of $3,824,758 in total unusual options premium detected across four contracts. HD shares are currently trading at $331.84, down 0.45% on the session, and sit in the lower half of their 52-week range of $289.10 to $426.75, leaving significant downside open toward the yearly floor.

Key Drivers of the HD Stock Move

The forward setup for HD warrants close attention heading into August. The stock has spent much of 2026 trading well below its 52-week high of $426.75, and today's options flow suggests institutional or sophisticated traders are not confident in a near-term recovery. The clustering of put strikes at $320 and $330 creates a clear technical zone to watch: a sustained break below $330 could validate the bearish thesis embedded in these contracts. The near-term $370 call expiring August 14, 2026 represents a contrarian bet, but with HD currently at $331.84, that strike sits nearly 11.5% out of the money, making it a lower-probability play without a significant catalyst. Investors should monitor whether HD can hold the $330 level heading into the September expiration window, as a failure there could open the door toward $320 and potentially test the broader 52-week low support zone.

HD Unusual Options Activity

Total unusual contracts flagged: 4. Total premium across all contracts: $3,824,758. Put premium represents the clear majority of today's flow, reflecting a net bearish directional bias in today's unusual activity.

HD Seasonality

Home Depot has historically experienced a seasonally active trading period in late summer, as investors assess the tail end of the spring and summer home improvement selling season. A put-heavy flow arriving at the end of July could reflect concern that peak seasonal demand is now fading, with the September expiration put timed closely to the period when that seasonal tailwind typically subsides.

HD Relative Performance

At $331.84, HD is trading approximately 22.3% below its 52-week high of $426.75 and only about 14.7% above its 52-week low of $289.10, placing it in the lower third of its annual range. The modest 0.45% decline on the session suggests the broader market is not in a broad selloff today, making the targeted bearish options positioning in HD stand out as stock-specific rather than macro-driven.

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