Market Whales and Their Recent Bets on TGT Options

Investors with a lot of money to spend have taken a bullish 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 11 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 27%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $231,793, and 7 are calls, for a total amount of $377,385.

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 $70.0 and $185.0 for Target, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Target options trades today is 971.27 with a total volume of 899.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Target's big money trades within a strike price range of $70.0 to $185.0 over 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 1,900 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.

Following our analysis of the options activities associated with Target, we pivot to a closer look at the company's own performance.

Where Is Target Standing Right Now?

• With a trading volume of 1,199,276, the price of TGT is up by 1.68%, reaching $105.81.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 58 days from now.

What The Experts Say On Target

In the last month, 5 experts released ratings on this stock with an average target price of $143.4.

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 DA Davidson continues to hold a Buy rating for Target, targeting a price of $140. * An analyst from Jefferies persists with their Buy rating on Target, maintaining a target price of $150. * An analyst from Telsey Advisory Group has decided to maintain their Outperform rating on Target, which currently sits at a price target of $145. * An analyst from Goldman Sachs persists with their Buy rating on Target, maintaining a target price of $142. * An analyst from JP Morgan has decided to maintain their Neutral rating on Target, which currently sits at a price target of $140.

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.