AT&T Unusual Options Activity

Someone with a lot of money to spend has taken a bearish stance on AT&T T.

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 T, 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 12 uncommon options trades for AT&T.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $224,646, and 6 are calls, for a total amount of $508,059.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $13.0 and $17.0 for AT&T, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of AT&T stands at 23428.71, with a total volume reaching 22,266.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AT&T, situated within the strike price corridor from $13.0 to $17.0, throughout the last 30 days.

AT&T Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

AT&T's Current Market Status

• Currently trading with a volume of 7,821,827, the T's price has down by -0.19%, now at $15.72. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 78 days.

Expert Opinions on AT&T:

• JP Morgan has decided to maintain their Neutral rating on AT&T, which currently sits at a price target of $17.
• Morgan Stanley persists with their Equal-Weight rating on AT&T, maintaining a target price of $19.
• Citigroup has decided to maintain their Buy rating on AT&T, which currently sits at a price target of $18.
• Scotiabank upgraded its action to Sector Outperform with a price target of $18.

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 AT&T with Benzinga Pro for real-time alerts.