Check Out What Whales Are Doing With TGT

Investors with a lot of money to spend have taken a bullish 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 14 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, 2 are puts, for a total amount of $68,634, and 12 are calls, for a total amount of $1,023,748.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $130.0 and $240.0 for Target, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Target stands at 1552.44, with a total volume reaching 15,994.00. 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 $240.0, throughout the last 30 days.

Target Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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 leading 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.

Present Market Standing of Target

• Trading volume stands at 2,005,336, with TGT's price up by 1.65%, positioned at $148.05.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 37 days.

Expert Opinions on Target

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $166.0.

• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Target with a target price of $166.

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.