Market Whales and Their Recent Bets on AT&T Options

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 10 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 40% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $171,172, and 7 are calls, amounting to $630,449.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3.0 and $21.0 for AT&T, spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for AT&T's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AT&T's significant trades, within a strike price range of $3.0 to $21.0, over the past month.

AT&T Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About AT&T

The wireless business contributes nearly 70% 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 23 million customers, but this business only accounts for 4% 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.

Having examined the options trading patterns of AT&T, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

AT&T's Current Market Status

• Currently trading with a volume of 31,929,279, the T's price is up by 1.48%, now at $19.19.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 72 days.

What Analysts Are Saying About AT&T

In the last month, 5 experts released ratings on this stock with an average target price of $22.4.

• An analyst from JP Morgan has decided to maintain their Overweight rating on AT&T, which currently sits at a price target of $24.
• An analyst from Scotiabank has decided to maintain their Sector Outperform rating on AT&T, which currently sits at a price target of $24.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $18.
• Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on AT&T with a target price of $23.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for AT&T, targeting a price of $23.

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.