Check Out What Whales Are Doing With TGT

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 23 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $387,036, and 15 are calls, for a total amount of $874,320.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $165.0 for Target over the recent three months.

Analyzing 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 $95.0 to $165.0 in the last 30 days.

Target 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Target

Target serves as the nation's sixth-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 top U.S. 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 physical footprint is typically concentrated in urban and suburban markets as the firm seeks to attract a more affluent consumer base.

After a thorough review of the options trading surrounding Target, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Target

• With a trading volume of 2,647,591, the price of TGT is up by 0.8%, reaching $130.69.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 98 days from now.

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 $145.6.

• Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Target with a target price of $157.
• Reflecting concerns, an analyst from Roth MKM lowers its rating to Neutral with a new price target of $140.
• An analyst from Citigroup persists with their Neutral rating on Target, maintaining a target price of $142.
• An analyst from TD Cowen has revised its rating downward to Market Perform, adjusting the price target to $148.
• Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on Target with a target price of $141.

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.