Today, a large, unusual volume in very long-dated, deep out-of-the-money (OTM) put options traded in Honeywell International (HON). Investors are bullish on HON stock, especially given management's FCF guidance released yesterday.
HON is trading at $213.31 in midday trading, up slightly. However, since the end of May, HON stock has dropped from a peak of $237.86 on May 29. It could have good upside based on what management said yesterday.