Target Unusual Options Activity For November 28

Target Unusual Options Activity For November 28

Someone with a lot of money to spend has taken a bullish stance on Target TGT.

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 TGT, 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 10 uncommon options trades for Target.

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 $214,705, and 6 are calls, for a total amount of $233,137.

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 $130.0 to $175.0 for Target over the last 3 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 $130.0 to $175.0 in the last 30 days.

Target 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
TGT PUT TRADE BEARISH 12/02/22 $160.00 $82.0K 2.6K 1.6K
TGT PUT SWEEP BULLISH 06/16/23 $130.00 $80.5K 757 152
TGT CALL SWEEP BEARISH 12/02/22 $175.00 $64.5K 890 6.7K
TGT CALL TRADE BEARISH 01/19/24 $160.00 $60.8K 427 20
TGT CALL TRADE BULLISH 12/02/22 $170.00 $29.6K 1.0K 5.5K

Where Is Target Standing Right Now?

  • With a volume of 1,881,479, the price of TGT is up 1.46% at $165.76.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 92 days.

What The Experts Say On Target:

  • Keybanc has decided to maintain their Overweight rating on Target, which currently sits at a price target of $180.
  • Truist Securities has decided to maintain their Hold rating on Target, which currently sits at a price target of $151.
  • Baird has decided to maintain their Outperform rating on Target, which currently sits at a price target of $180.
  • JP Morgan has decided to maintain their Overweight rating on Target, which currently sits at a price target of $201.
  • Credit Suisse has decided to maintain their Outperform rating on Target, which currently sits at a price target of $165.

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 Target, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets