27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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 18 strange trades.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $469,280 and 7, calls, for a total amount of $268,481.
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 $135.0 to $165.0 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 1175.0 with a total volume of 1,894.00.
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 $135.0 to $165.0 over the last 30 days.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
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 | TRADE | BULLISH | 01/20/23 | $150.00 | $65.0K | 2.1K | 227 |
| TGT | PUT | TRADE | BEARISH | 01/20/23 | $150.00 | $61.5K | 2.1K | 127 |
| TGT | CALL | TRADE | BEARISH | 10/14/22 | $152.50 | $55.7K | 138 | 254 |
| TGT | PUT | TRADE | BULLISH | 10/14/22 | $150.00 | $53.5K | 133 | 266 |
| TGT | PUT | SWEEP | BEARISH | 01/20/23 | $135.00 | $46.6K | 846 | 59 |
Where Is Target Standing Right Now?
- With a volume of 2,509,223, the price of TGT is down -1.82% at $149.03.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 47 days.
What The Experts Say On Target:
- Keybanc downgraded its action to Overweight with a price target of $200
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.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.