Whales with a lot of money to spend have taken a noticeably bullish stance on Target.
Looking at options history for Target TGT we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $136,293 and 5, calls, for a total amount of $224,613.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $143.0 to $155.0 for Target during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Target options trades today is 1022.83 with a total volume of 2,400.00.
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 $143.0 to $155.0 over the last 30 days.
Target Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TGT | CALL | SWEEP | BULLISH | 03/01/24 | $155.00 | $55.1K | 79 | 510 |
| TGT | PUT | TRADE | NEUTRAL | 05/17/24 | $155.00 | $51.3K | 66 | 40 |
| TGT | PUT | TRADE | NEUTRAL | 05/17/24 | $150.00 | $45.8K | 231 | 45 |
| TGT | CALL | SWEEP | BEARISH | 03/01/24 | $150.00 | $45.3K | 2.4K | 229 |
| TGT | CALL | TRADE | BULLISH | 02/09/24 | $143.00 | $44.5K | 1.2K | 18 |
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.
Target's Current Market Status
- Currently trading with a volume of 137,504, the TGT's price is up by 3.16%, now at $149.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 20 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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