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 12 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $456,803, and 7 are calls, for a total amount of $342,060.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $160.0 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 169.33 with a total volume of 2,197.00.

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 $100.0 to $160.0 over the last 30 days.

Target Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

In light of the recent options history for Target, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Target

• Currently trading with a volume of 911,079, the TGT's price is down by -0.27%, now at $142.0.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 61 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Target, Benzinga Pro gives you real-time options trades alerts.