Target Unusual Options Activity

Investors with a lot of money to spend have taken a bearish 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 30 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 23% bullish and 56%, bearish.

Out of all of the special options we uncovered, 26 are puts, for a total amount of $1,531,020, and 4 are calls, for a total amount of $189,456.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $155.0 for Target during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Target options trades today is 1512.41 with a total volume of 20,964.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Target's big money trades within a strike price range of $100.0 to $155.0 over the last 30 days.

Target 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Target

Target serves as the nation's seventh-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.

Target's Current Market Status

• With a trading volume of 28,087,165, the price of TGT is down by -20.25%, reaching $123.52.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 0 days from now.

What Analysts Are Saying About Target

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $176.0.

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. * An analyst from Telsey Advisory Group has decided to maintain their Outperform rating on Target, which currently sits at a price target of $195. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Target, targeting a price of $165. * An analyst from Bernstein downgraded its action to Market Perform with a price target of $168.

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 Target with Benzinga Pro for real-time alerts.