Unpacking the Latest Options Trading Trends in Target

Financial giants have made a conspicuous bullish move on Target. Our analysis of options history for Target TGT revealed 9 unusual trades.

Delving into the details, we found 33% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $1,941,290, and 2 were calls, valued at $58,290.

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 $90.0 and $138.0 for Target, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Target stands at 552.0, with a total volume reaching 3,469.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Target, situated within the strike price corridor from $90.0 to $138.0, throughout the last 30 days.

Target 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

After a thorough review of the options trading surrounding Target, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Target's Current Market Status

• With a volume of 1,068,113, the price of TGT is up 0.38% at $132.42.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 70 days.

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 $146.66666666666666.

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. * In a cautious move, an analyst from Oppenheimer downgraded its rating to Outperform, setting a price target of $165. * Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for Target, targeting a price of $145. * Reflecting concerns, an analyst from Daiwa Capital lowers its rating to Neutral with a new price target of $130.

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.