Deep-pocketed investors have adopted a bearish approach towards AT&T T, 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 T usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for AT&T. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 62% bearish. Among these notable options, 4 are puts, totaling $327,323, and 4 are calls, amounting to $112,850.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $3.0 to $26.0 for AT&T over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of AT&T stands at 3774.0, with a total volume reaching 70.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AT&T, situated within the strike price corridor from $3.0 to $26.0, throughout the last 30 days.
AT&T Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| T | PUT | SWEEP | BEARISH | 12/20/24 | $7.65 | $7.55 | $7.65 | $26.00 | $107.8K | 0 | 15 |
| T | PUT | SWEEP | BEARISH | 01/17/25 | $7.65 | $7.3 | $7.65 | $26.00 | $107.0K | 345 | 0 |
| T | PUT | SWEEP | BEARISH | 01/17/25 | $7.65 | $7.55 | $7.65 | $26.00 | $67.3K | 345 | 0 |
| T | PUT | SWEEP | BEARISH | 06/20/25 | $3.95 | $3.85 | $3.95 | $22.00 | $45.0K | 4.9K | 1 |
| T | CALL | TRADE | BULLISH | 06/20/25 | $15.75 | $15.0 | $15.7 | $3.00 | $29.8K | 100 | 0 |
About AT&T
The wireless business contributes about two thirds of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 22 million customers, but this business only accounts for 3% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
After a thorough review of the options trading surrounding AT&T, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
AT&T's Current Market Status
- Currently trading with a volume of 18,518,220, the T's price is up by 0.27%, now at $18.73.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 19 days.
Professional Analyst Ratings for AT&T
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $23.25.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on AT&T with a target price of $26.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on AT&T with a target price of $21.
- An analyst from UBS has decided to maintain their Buy rating on AT&T, which currently sits at a price target of $24.
- Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Buy with a new price target of $22.
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 AT&T options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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