This Is What Whales Are Betting On AT&T

Deep-pocketed investors have adopted a bullish 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 18 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 50% leaning bullish and 22% bearish. Among these notable options, 11 are puts, totaling $1,312,199, and 7 are calls, amounting to $273,283.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $25.0 for AT&T over the recent three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AT&T's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AT&T's substantial trades, within a strike price spectrum from $15.0 to $25.0 over the preceding 30 days.

AT&T Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

AT&T's Current Market Status

• With a volume of 18,643,191, the price of T is down -0.57% at $21.73.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 2 days.

What Analysts Are Saying About AT&T

In the last month, 2 experts released ratings on this stock with an average target price of $27.5.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Tigress Financial keeps a Buy rating on AT&T with a target price of $30. * An analyst from Wells Fargo has decided to maintain their Overweight rating on AT&T, which currently sits at a price target of $25.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for AT&T with Benzinga Pro for real-time alerts.