AT&T's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on AT&T T.

And retail traders should know.

We noticed this today when the positions 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 T, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for AT&T.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $35,000, and 7, calls, for a total amount of $380,816.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $22.5 for AT&T, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for AT&T options trades today is 10856.83 with a total volume of 3,146.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for AT&T's big money trades within a strike price range of $15.0 to $22.5 over the last 30 days.

AT&T Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

Following our analysis of the options activities associated with AT&T, we pivot to a closer look at the company's own performance.

AT&T's Current Market Status

• Trading volume stands at 5,305,403, with T's price down by -1.35%, positioned at $22.19.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 90 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 $25.4.

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. * Maintaining their stance, an analyst from Tigress Financial continues to hold a Buy rating for AT&T, targeting a price of $30. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for AT&T, targeting a price of $24. * Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on AT&T with a target price of $24. * An analyst from Wells Fargo persists with their Overweight rating on AT&T, maintaining a target price of $25. * An analyst from Wells Fargo persists with their Overweight rating on AT&T, maintaining a target price of $24.

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.