Behind the Scenes of Target's Latest Options Trends

Investors with significant funds have taken a bearish position in Target TGT, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in TGT usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 8 options transactions for Target. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 0% being bullish and 87% bearish. Of all the options we discovered, 7 are puts, valued at $376,311, and there was a single call, worth $44,820.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $140.0 for Target during the past quarter.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Target's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Target's significant trades, within a strike price range of $125.0 to $140.0, over the past month.

Target Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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 footprint is typically concentrated in urban and suburban markets as the firm seeks to attract a more affluent consumer base.

Current Position of Target

• With a volume of 127,377, the price of TGT is up 0.11% at $130.84.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 75 days.

What Analysts Are Saying About Target

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $153.2.

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 B of A Securities persists with their Buy rating on Target, maintaining a target price of $160. * An analyst from Telsey Advisory Group has decided to maintain their Outperform rating on Target, which currently sits at a price target of $195. * In a cautious move, an analyst from Citigroup downgraded its rating to Neutral, setting a price target of $130. * An analyst from Roth MKM has decided to maintain their Neutral rating on Target, which currently sits at a price target of $131. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Target with a target price of $150.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Target, Benzinga Pro gives you real-time options trades alerts.