Decoding Target's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish 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 33 extraordinary options activities for Target. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 45% leaning bullish and 36% bearish. Among these notable options, 23 are puts, totaling $1,666,494, and 10 are calls, amounting to $2,669,125.

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 $85.0 to $140.0 for Target 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 Target's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Target's substantial trades, within a strike price spectrum from $85.0 to $140.0 over the preceding 30 days.

Target Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

Present Market Standing of Target

• Trading volume stands at 3,925,133, with TGT's price down by -0.57%, positioned at $114.42.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 72 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 $133.2.

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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 JP Morgan keeps a Neutral rating on Target with a target price of $140. * An analyst from Oppenheimer persists with their Outperform rating on Target, maintaining a target price of $150. * An analyst from Roth MKM has revised its rating downward to Neutral, adjusting the price target to $122. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Target, targeting a price of $124. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Target, targeting a price 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.