Target's Options Frenzy: What You Need to Know

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 positions 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.

Today, Benzinga's options scanner spotted 11 options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 9% bullish and 90%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $57,615, and 10, calls, for a total amount of $1,018,235.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $185.0 for Target over the recent three months.

Volume & Open Interest Development

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 $150.0 to $185.0, over the past month.

Target Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
TGT CALL TRADE NEUTRAL 05/17/24 $18.35 $17.1 $17.67 $150.00 $212.0K 944 2.0K
TGT CALL TRADE BEARISH 04/19/24 $17.5 $17.2 $17.0 $150.00 $204.0K 3.6K 2.0K
TGT CALL TRADE NEUTRAL 05/17/24 $18.35 $17.1 $17.67 $150.00 $106.0K 944 2.0K
TGT CALL TRADE BEARISH 04/19/24 $17.5 $17.2 $17.0 $150.00 $102.0K 3.6K 2.0K
TGT CALL TRADE BEARISH 06/21/24 $9.85 $9.8 $9.8 $165.00 $96.0K 3.0K 152

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 US retailer.Today, Target operates over 1,950 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.

After a thorough review of the options trading surrounding Target, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Target Standing Right Now?

  • With a volume of 1,639,487, the price of TGT is down -0.09% at $165.97.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 30 days.

Professional Analyst Ratings for Target

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $200.0.

  • An analyst from Tigress Financial persists with their Buy rating on Target, maintaining a target price of $210.
  • Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Target with a target price of $185.
  • An analyst from Jefferies persists with their Buy rating on Target, maintaining a target price of $205.

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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