Check Out What Whales Are Doing With AT&T

Check Out What Whales Are Doing With AT&T

Someone with a lot of money to spend has taken a bullish stance on AT&T T.

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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for AT&T.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $714,837, and 8 are calls, for a total amount of $993,604.

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 $18.0 to $30.0 for AT&T over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for AT&T'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 AT&T's whale activity within a strike price range from $18.0 to $30.0 in 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 CALL TRADE BULLISH 01/19/24 $20.00 $628.0K 5.1K 4.1K
T PUT SWEEP BULLISH 01/19/24 $30.00 $356.9K 108 391
T PUT SWEEP BULLISH 07/29/22 $19.50 $153.2K 7.5K 3.0K
T PUT TRADE BULLISH 07/29/22 $19.50 $150.0K 7.5K 15
T CALL TRADE BEARISH 01/20/23 $18.00 $96.0K 1.1K 620

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
T CALL TRADE BULLISH 01/19/24 $20.00 $628.0K 5.1K 4.1K
T PUT SWEEP BULLISH 01/19/24 $30.00 $356.9K 108 391
T PUT SWEEP BULLISH 07/29/22 $19.50 $153.2K 7.5K 3.0K
T PUT TRADE BULLISH 07/29/22 $19.50 $150.0K 7.5K 15
T CALL TRADE BEARISH 01/20/23 $18.00 $96.0K 1.1K 620

Where Is AT&T Standing Right Now?

  • With a volume of 24,198,410, the price of T is up 0.3% at $18.45.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 87 days.

What The Experts Say On AT&T:

  • Deutsche Bank has decided to maintain their Buy rating on AT&T, which currently sits at a price target of $22.
  • Cowen & Co. has decided to maintain their Market Perform rating on AT&T, which currently sits at a price target of $24.
  • UBS has decided to maintain their Buy rating on AT&T, which currently sits at a price target of $24.
  • Raymond James has decided to maintain their Outperform rating on AT&T, which currently sits at a price target of $26.
  • Barclays downgraded its action to Equal-Weight with a price target of $20

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 want to stay updated on the latest options trades for AT&T, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets