AT&T Unusual Options Activity For February 24

Investors with a lot of money to spend have taken a bearish stance on AT&T T.

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 T, 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 9 uncommon options trades for AT&T.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $102,594, and 7 are calls, for a total amount of $241,846.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $27.5 for AT&T during the past quarter.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AT&T's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AT&T's substantial trades, within a strike price spectrum from $15.0 to $27.5 over the preceding 30 days.

AT&T 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About AT&T

The wireless business contributes nearly 70% of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 15% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm recently agreed to sell its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.

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

Where Is AT&T Standing Right Now?

• Trading volume stands at 13,670,536, with T's price up by 1.75%, positioned at $27.09.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 58 days.

Expert Opinions on AT&T

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $28.5.

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. * Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on AT&T with a target price of $26. * Consistent in their evaluation, an analyst from Tigress Financial keeps a Buy rating on AT&T with a target price of $32. * Maintaining their stance, an analyst from Bernstein continues to hold a Outperform rating for AT&T, targeting a price of $29. * An analyst from RBC Capital persists with their Outperform rating on AT&T, maintaining a target price of $27.

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 AT&T with Benzinga Pro for real-time alerts.