Target Whale Trades Spotted

 

Someone with a lot of money to spend has taken a bullish stance on Target TGT.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 36 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 15 are puts, for a total amount of $785,834, and 21 are calls, for a total amount of $1,744,114.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $200.0 for Target over the last 3 months.

Volume & Open Interest Development

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 $70.0 to $200.0 in the last 30 days.

Target Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
TGT	CALL	TRADE	BEARISH	10/21/22	$170.00	$502.6K	1.7K	481
TGT	CALL	SWEEP	BULLISH	09/16/22	$160.00	$279.8K	3.1K	7
TGT	PUT	SWEEP	BULLISH	01/20/23	$155.00	$259.8K	1.7K	450
TGT	CALL	TRADE	BULLISH	10/21/22	$170.00	$217.1K	1.7K	664
TGT	CALL	TRADE	BULLISH	08/19/22	$170.00	$105.7K	3.8K	403

Where Is Target Standing Right Now?

• With a volume of 2,427,377, the price of TGT is up 4.53% at $172.6.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 7 days.

What The Experts Say On Target:

• Piper Sandler downgraded its action to Neutral with a price target of $190
• JP Morgan has decided to maintain their Overweight rating on Target, which currently sits at a price target of $190.
• Tigress Financial has decided to maintain their Buy rating on Target, which currently sits at a price target of $215.
• Wells Fargo upgraded its action to Overweight with a price target of $195

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.