On CNBC's Options Action, Dan Nathan spoke about bearish options activity in Target Corporation TGT. Put options volume was two times higher than call options volume on Thursday, but the stock managed to close 0.33 percent higher.
It has been struggling in March, because it failed to meet earnings expectations and it's currently trading close to a very important support level.
Nathan noticed a trader bought 1,000 contracts of the April 52.50 puts for $0.75 on Thursday. The trade breaks even at $51.75 or 6.25 percent below the closing price on Thursday.
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