Looking At AT&T's Recent Whale Trades

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on AT&TT.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with T, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 15 options trades for AT&T.

This isn't normal.

The overall sentiment of these big-money traders is split between 20.0% bullish and 80.0%, bearish.

Out of all of the options we uncovered, 6 are puts, for a total amount of $458,446, and 9 are calls, for a total amount of $808,986.

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales are targeting a price range from $26.0 to $29.0 for AT&T in the over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the total open interest for AT&T options trades today is 79,644 with a total volume of 114,607.

In the following chart, we are able to follow the development of volume and open interest of call and put options for AT&T's options trades within a strike price range of $26.0 to $29.0 over the last 30 days.

AT&T Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is AT&T Standing Right Now?

• With a volume of 13,551,026, the price of T is down -0.72% over the last 24 hours at $26.89.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 13 days.

What The Experts Say On AT&T:

• MoffettNathanson upgraded its action to Neutral with a price target of $28.0
• Loop Capital downgraded its action to Hold with a price target of $30.0

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.