Unpacking the Latest Options Trading Trends in 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 13 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 23% bullish and 76%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $52,120, and 11 are calls, for a total amount of $527,401.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $220.0 for Target, spanning the last three months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Target's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Target's whale trades within a strike price range from $140.0 to $220.0 in the last 30 days.

Target Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Target, we pivot to a closer look at the company's own performance.

Where Is Target Standing Right Now?

• With a trading volume of 1,847,485, the price of TGT is up by 0.81%, reaching $174.95.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 69 days from now.

What Analysts Are Saying About Target

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $177.2.

• An analyst from B of A Securities has decided to maintain their Buy rating on Target, which currently sits at a price target of $190.
• An analyst from Telsey Advisory Group downgraded its action to Outperform with a price target of $160.
• An analyst from Wells Fargo persists with their Overweight rating on Target, maintaining a target price of $165.
• An analyst from Evercore ISI Group persists with their In-Line rating on Target, maintaining a target price of $180.
• An analyst from UBS persists with their Buy rating on Target, maintaining a target price of $191.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Target with Benzinga Pro for real-time alerts.