Check Out What Whales Are Doing With TGT

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 8 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $690,988, and 3 are calls, for a total amount of $102,747.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $130.0 and $145.0 for Target, spanning the last three months.

Volume & Open Interest Trends

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 $130.0 to $145.0 over the preceding 30 days.

Target Call and Put Volume: 30-Day Overview

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.

Where Is Target Standing Right Now?

• Currently trading with a volume of 2,313,138, the TGT's price is up by 0.06%, now at $141.0.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 42 days.

Professional Analyst Ratings for Target

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $160.0.

• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Target, targeting a price of $155.
• Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $165.

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.