Looking At Target's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Target TGT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TGT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Target. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 11% leaning bullish and 88% bearish. Among these notable options, 2 are puts, totaling $57,400, and 7 are calls, amounting to $331,605.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $120.0 and $165.0 for Target, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Target's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Target's significant trades, within a strike price range of $120.0 to $165.0, over the past month.

Target 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Target

Target serves as the nation's sixth-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 top U.S. 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 physical footprint is typically concentrated in urban and suburban markets as the firm seeks to attract a more affluent consumer base.

Current Position of Target

• Trading volume stands at 1,918,317, with TGT's price down by -1.27%, positioned at $147.5.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 14 days.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Target options trades with real-time alerts from Benzinga Pro.