Investors with a lot of money to spend have taken a bearish stance on Target TGT.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 these investors just did?
Today, Benzinga's options scanner spotted 15 uncommon options trades for Target.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 53%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $190,845, and 11 are calls, for a total amount of $471,030.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $130.0 to $175.0 for Target during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Target stands at 1433.12, with a total volume reaching 2,480.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Target, situated within the strike price corridor from $130.0 to $175.0, throughout the last 30 days.
Target Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TGT | CALL | SWEEP | BEARISH | 08/16/24 | $10.2 | $10.05 | $10.05 | $160.00 | $75.3K | 271 | 260 |
| TGT | CALL | TRADE | BULLISH | 08/16/24 | $9.8 | $9.65 | $9.75 | $160.00 | $73.1K | 271 | 259 |
| TGT | PUT | TRADE | BEARISH | 06/20/25 | $15.75 | $15.65 | $15.75 | $155.00 | $66.1K | 304 | 43 |
| TGT | CALL | SWEEP | BULLISH | 08/16/24 | $10.2 | $10.05 | $10.05 | $160.00 | $50.2K | 271 | 134 |
| TGT | PUT | SWEEP | NEUTRAL | 09/20/24 | $10.85 | $10.8 | $10.81 | $160.00 | $48.6K | 3.0K | 244 |
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 US retailer.Today, Target operates over 1,950 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.
In light of the recent options history for Target, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Target Standing Right Now?
- Trading volume stands at 875,628, with TGT's price up by 0.17%, positioned at $160.69.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 14 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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