Home Depot Prepares for Q3 Earnings Call

The home improvement stock has a mostly positive post-earnings history

Jake Scott

Deputy Editor

Nov 9, 2023 at 2:11 PM

Home improvement retailer Home Depot Inc (NYSE:HD) is about to announce its third-quarter earnings report, due out before the market open on Tuesday, Nov. 14. Since dipping to an Oct. 27, 52-week low of $274.26, HD has managed a substantial rebound.

On the charts, the equity recently crossed back above former pressure at its 20-day moving average. Still, Home Depot stock was last seen down 2.1% at $289.70, breaking below a short-term floor at the $290 mark, and is down 8.1% in 2023.

HD Chart November 92023

Diving into HD's earnings history, the stock closed higher the following day after five of the company's past eight quarterly reports. Overall, the shares averaged a 4% swing the day after reporting, regardless of direction, which is slightly lower than the 5.8% swing options traders are pricing in this time around.

Leading up to the event, short-term options traders are favoring bearish bets. This is per Home Depot stock's Schaeffer's put/call open interest ratio (SOIR) of 1.43 that stands in the slightly elevated 71st percentile of annual readings.

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