Home Depot Stock Edges Higher on Beat-and-Raise

Core Insights - Home Depot Inc (NYSE:HD) reported third-quarter results, surpassing both revenue and earnings estimates, and raised its same-store annual sales and growth forecasts due to strong demand following hurricane season [1] Stock Performance - HD shares increased by 0.2%, trading at $409.39, with an 18.5% gain projected for 2024, marking the highest level in nearly a month and approaching the two-year high of $418.61 reached on October 16 [2] Analyst Sentiment - Among 35 analysts, eight rated HD as a "hold," while the 12-month consensus target price is $414.77, aligning with the current stock price [3] Options Market Activity - Options trading volume is significantly high, at four times the average, with 7,958 calls and 4,412 puts exchanged, indicating interest in the November 420 call [3] - The Schaefer's Volatility Index (SVI) for HD is at 23%, reflecting low volatility expectations, positioned in the low 21st percentile of the past year's readings [4]