A whale with a lot of money to spend has taken a noticeably bullish stance on Target.
Looking at options history for Target (NYSE:TGT) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $187,670 and 5, calls, for a total amount of $326,356.
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 $152.5 to $177.5 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 1195.38 with a total volume of 1,630.00.
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 $152.5 to $177.5 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 | CALL | SWEEP | BULLISH | 06/16/23 | $170.00 | $166.4K | 1.0K | 130 |
| TGT | CALL | SWEEP | BULLISH | 06/16/23 | $170.00 | $76.6K | 1.0K | 41 |
| TGT | PUT | TRADE | BEARISH | 10/28/22 | $167.50 | $47.9K | 310 | 515 |
| TGT | PUT | TRADE | NEUTRAL | 12/16/22 | $160.00 | $44.0K | 6.1K | 54 |
| TGT | PUT | SWEEP | BEARISH | 10/28/22 | $165.00 | $34.8K | 890 | 374 |
Where Is Target Standing Right Now?
- With a volume of 422,368, the price of TGT is down -1.5% at $164.39.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 19 days.
What The Experts Say On Target:
- Jefferies upgraded its action to Buy with a price target of $185
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 want to stay updated on the latest options trades for Target, Benzinga Pro gives you real-time options trades alerts.
