High-rolling investors have positioned themselves bullish on AT&T T, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in T often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for AT&T. This is not a typical pattern.
The sentiment among these major traders is split, with 62% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $33,943, and 7 calls, totaling $335,091.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $17.0 for AT&T over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for AT&T options trades today is 18546.75 with a total volume of 2,361.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for AT&T's big money trades within a strike price range of $10.0 to $17.0 over the last 30 days.
AT&T 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| T | CALL | SWEEP | BULLISH | 12/22/23 | $16.50 | $74.6K | 13.3K | 975 |
| T | CALL | SWEEP | BULLISH | 01/17/25 | $10.00 | $50.6K | 2.0K | 10 |
| T | CALL | SWEEP | NEUTRAL | 01/19/24 | $15.00 | $50.0K | 62.1K | 218 |
| T | CALL | SWEEP | BEARISH | 06/21/24 | $15.00 | $50.0K | 15.8K | 246 |
| T | CALL | SWEEP | BULLISH | 06/20/25 | $17.00 | $45.6K | 7.4K | 11 |
About AT&T
The wireless business contributes about two thirds of AT&T's revenue following the spinoff of Warner Media. The firm is the third-largest U.S. wireless carrier, connecting 70 million postpaid and 18 million prepaid phone customers. Fixed-line enterprise services, which account for about 18% 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 service. AT&T also has a sizable presence in Mexico, serving 22 million customers, but this business only accounts for 3% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
After a thorough review of the options trading surrounding AT&T, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of AT&T
- With a trading volume of 13,367,693, the price of T is up by 0.06%, reaching $16.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 33 days from now.
Professional Analyst Ratings for AT&T
1 market experts have recently issued ratings for this stock, with a consensus target price of $20.0.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for AT&T, targeting a price of $20.
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 AT&T options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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