A whale with a lot of money to spend has taken a noticeably bearish stance on Target.
Looking at options history for Target (NYSE:TGT) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $419,540 and 6, calls, for a total amount of $375,446.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $185.0 to $280.0 for Target over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Target options trades today is 637.0 with a total volume of 2,892.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Target's big money trades within a strike price range of $185.0 to $280.0 over the last 30 days.
Target Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TGT | PUT | SWEEP | BEARISH | 01/20/23 | $210.00 | $211.0K | 1.1K | 100 |
| TGT | CALL | TRADE | BULLISH | 01/20/23 | $260.00 | $195.2K | 717 | 1 |
| TGT | PUT | TRADE | BULLISH | 03/18/22 | $185.00 | $81.5K | 1.6K | 527 |
| TGT | CALL | TRADE | BULLISH | 02/04/22 | $195.00 | $54.0K | 1 | 0 |
| TGT | PUT | SWEEP | BEARISH | 02/04/22 | $212.50 | $50.1K | 1.2K | 665 |
Where Is Target Standing Right Now?
- With a volume of 2,149,697, the price of TGT is down -1.85% at $216.34.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 28 days.
What The Experts Say On Target:
- Truist Securities downgraded its action to Buy with a price target of $270
- Morgan Stanley has decided to maintain their Equal-Weight rating on Target, which currently sits at a price target of $255.
- Wells Fargo downgraded its action to Equal-Weight with a price target of $230
- RBC Capital downgraded its action to Outperform with a price target of $278
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
