What the Options Market Tells Us About Target

Investors with a lot of money to spend have taken a bearish stance on Target TGT.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with TGT, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 9 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 55%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $87,120, and 6 are calls, for a total amount of $314,285.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $112.0 for Target over the last 3 months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Target's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Target's substantial trades, within a strike price spectrum from $80.0 to $112.0 over the preceding 30 days.

Target Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About Target

Target serves as the nation's seventh-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices. Target's upscale and stylish image began to carry national merit in the 1990s—a decade in which the brand saw its top line grow threefold to almost $30 billion—and has since cemented itself as a leading US retailer.Today, Target operates over 1,900 stores in the United States, generates over $100 billion in sales, and fulfills over 2 billion customer orders annually. The firm's vast footprint is concentrated in urban and suburban markets as the firm seeks to appeal to a more affluent consumer base.

Having examined the options trading patterns of Target, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Target Standing Right Now?

• With a volume of 839,299, the price of TGT is down -1.11% at $102.0.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 20 days.

Professional Analyst Ratings for Target

1 market experts have recently issued ratings for this stock, with a consensus target price of $91.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from Barclays downgraded its rating to Underweight, setting a price target of $91.

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.