A Closer Look at Target's Options Market Dynamics

Deep-pocketed investors have adopted a bearish approach towards Target TGT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TGT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Target. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $308,435, and 7 are calls, amounting to $855,990.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $165.0 for Target over the last 3 months.

Volume & Open Interest Development

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 $120.0 to $165.0, over the past month.

Target Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

In light of the recent options history for Target, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Target

• With a trading volume of 1,623,019, the price of TGT is down by -0.6%, reaching $136.52.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 41 days from now.

What The Experts Say On Target

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $143.0.

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. * Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Target, targeting a price of $134. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Target with a target price of $133. * Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Target with a target price of $150. * An analyst from Guggenheim persists with their Buy rating on Target, maintaining a target price of $155.

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.