Spotlight on Target: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on Target. Our analysis of options history for Target TGT revealed 21 unusual trades.

Delving into the details, we found 57% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $513,964, and 12 were calls, valued at $441,238.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $105.0 to $200.0 for Target over the recent three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Target's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Target's whale trades within a strike price range from $105.0 to $200.0 in the last 30 days.

Target Call and Put Volume: 30-Day Overview

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.

Following our analysis of the options activities associated with Target, we pivot to a closer look at the company's own performance.

Where Is Target Standing Right Now?

• With a volume of 3,636,109, the price of TGT is up 0.13% at $158.7.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 79 days.

Professional Analyst Ratings for Target

5 market experts have recently issued ratings for this stock, with a consensus target price of $175.2.

• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Target with a target price of $160.
• Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Target with a target price of $200.
• An analyst from Jefferies has decided to maintain their Buy rating on Target, which currently sits at a price target of $195.
• Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for Target, targeting a price of $165.
• An analyst from Truist Securities has decided to maintain their Hold rating on Target, which currently sits at a price target of $156.

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.