A whale with a lot of money to spend has taken a noticeably bearish stance on AT&T.
Looking at options history for AT&T T we detected 17 strange trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $569,748 and 13, calls, for a total amount of $643,043.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $23.0 to $27.0 for AT&T over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for AT&T options trades today is 13042.12 with a total volume of 202,436.00.
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 big money trades within a strike price range of $23.0 to $27.0 over the last 30 days.
AT&T Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| T | PUT | SWEEP | BEARISH | 03/18/22 | $24.00 | $438.3K | 25.4K | 7.5K |
| T | CALL | SWEEP | BULLISH | 12/31/21 | $24.00 | $123.1K | 31.9K | 2.7K |
| T | CALL | SWEEP | BULLISH | 12/31/21 | $24.00 | $92.1K | 31.9K | 13.9K |
| T | CALL | SWEEP | BEARISH | 12/31/21 | $25.50 | $74.8K | 4.2K | 44.2K |
| T | PUT | TRADE | BEARISH | 03/18/22 | $24.00 | $64.5K | 25.4K | 11.6K |
Where Is AT&T Standing Right Now?
- With a volume of 23,946,620, the price of T is up 2.25% at $24.73.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 36 days.
What The Experts Say On AT&T:
- Barclays upgraded its action to Overweight with a price target of $30
- Citigroup has decided to maintain their Buy rating on AT&T, which currently sits at a price target of $29.
- Morgan Stanley upgraded its action to Overweight with a price target of $28
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.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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