Check Out What Whales Are Doing With TGT

Someone with a lot of money to spend has taken a bearish 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 22 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 13% bullish and 86%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $114,655, and 19 are calls, for a total amount of $907,874.

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 $95.0 to $150.0 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 $95.0 to $150.0 in the last 30 days.

Target Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Target Standing Right Now?

• With a volume of 810,149, the price of TGT is up 2.45% at $126.46.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 78 days.

What The Experts Say On Target:

• Jefferies has decided to maintain their Buy rating on Target, which currently sits at a price target of $165.
• RBC Capital downgraded its action to Outperform with a price target of $161
• DA Davidson has decided to maintain their Buy rating on Target, which currently sits at a price target of $177.
• Roth MKM downgraded its action to Neutral with a price target of $156
• Wells Fargo has decided to maintain their Equal-Weight rating on Target, which currently sits at a price target of $135.

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.