Market Whales and Their Recent Bets on TGT Options

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 15 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 53%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $514,930, and 9 are calls, for a total amount of $831,199.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $160.0 for Target over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Target's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Target's whale activity within a strike price range from $115.0 to $160.0 in the last 30 days.

Target Option Volume And Open Interest Over Last 30 Days

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.

Having examined the options trading patterns of Target, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Target

• Currently trading with a volume of 3,484,996, the TGT's price is down by -1.39%, now at $131.4.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 46 days.

What The Experts Say On Target

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $142.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Truist Securities has decided to maintain their Hold rating on Target, which currently sits at a price target of $134. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Target with a target price of $150.

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.