Target Options Trading: A Deep Dive into Market Sentiment

Whales with a lot of money to spend have taken a noticeably bearish stance on Target.

Looking at options history for Target TGT we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $294,880 and 4, calls, for a total amount of $144,992.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $132.0 and $160.0 for Target, spanning the last three months.

Volume & Open Interest Development

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 $132.0 to $160.0 in the last 30 days.

Target 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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 leading 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.

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

Current Position of Target

• Trading volume stands at 879,325, with TGT's price up by 1.12%, positioned at $143.24.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 5 days.

What The Experts Say On 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 $159.2.

• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Target with a target price of $160.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Target with a target price of $156.
• Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Target, targeting a price of $180.
• Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on Target with a target price of $147.
• An analyst from JP Morgan has decided to maintain their Neutral rating on Target, which currently sits at a price target of $153.

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.