Deep-pocketed investors have adopted a bullish approach towards Target TGT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TGT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Target. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 41% bearish. Among these notable options, 5 are puts, totaling $220,707, and 12 are calls, amounting to $397,805.
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 $120.0 to $175.0 for Target over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Target's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Target's substantial trades, within a strike price spectrum from $120.0 to $175.0 over the preceding 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 | 03/15/24 | $150.00 | $50.1K | 314 | 46 |
| TGT | PUT | SWEEP | BEARISH | 03/15/24 | $150.00 | $50.0K | 314 | 91 |
| TGT | PUT | SWEEP | BEARISH | 03/15/24 | $150.00 | $49.9K | 314 | 136 |
| TGT | CALL | TRADE | BEARISH | 06/21/24 | $175.00 | $44.9K | 976 | 175 |
| TGT | CALL | TRADE | BULLISH | 04/19/24 | $125.00 | $44.4K | 748 | 20 |
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 top U.S. retailer.Today, Target operates over 1,900 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.
Following our analysis of the options activities associated with Target, we pivot to a closer look at the company's own performance.
Where Is Target Standing Right Now?
- With a volume of 808,509, the price of TGT is up 0.73% at $143.46.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 56 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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