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 60 strange trades.
If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 51% with bearish.
From the overall spotted trades, 26 are puts, for a total amount of $1,675,396 and 34, calls, for a total amount of $1,868,178.
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 $95.0 to $270.0 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 931.04 with a total volume of 19,441.00.
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 $95.0 to $270.0 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 | CALL | TRADE | BEARISH | 08/19/22 | $145.00 | $223.0K | 1.3K | 102 |
| TGT | PUT | SWEEP | BULLISH | 01/20/23 | $185.00 | $215.7K | 2.8K | 205 |
| TGT | PUT | TRADE | BULLISH | 01/19/24 | $250.00 | $161.6K | 92 | 44 |
| TGT | CALL | SWEEP | BULLISH | 06/16/23 | $130.00 | $131.8K | 12 | 26 |
| TGT | CALL | TRADE | BEARISH | 06/16/23 | $170.00 | $101.4K | 130 | 99 |
Where Is Target Standing Right Now?
- With a volume of 2,131,155, the price of TGT is up 0.34% at $173.07.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 2 days.
What The Experts Say On Target:
- Tigress Financial has decided to maintain their Buy rating on Target, which currently sits at a price target of $215.
- JP Morgan has decided to maintain their Overweight rating on Target, which currently sits at a price target of $190.
- Piper Sandler downgraded its action to Neutral with a price target of $190
- Wells Fargo upgraded its action to Overweight with a price target of $195
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.
