High-rolling investors have positioned themselves bearish on AT&T T, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in T often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for AT&T. This is not a typical pattern.
The sentiment among these major traders is split, with 22% bullish and 77% bearish. Among all the options we identified, there was one put, amounting to $40,656, and 8 calls, totaling $410,681.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $13.0 to $18.0 for AT&T over the last 3 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 AT&T's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AT&T's substantial trades, within a strike price spectrum from $13.0 to $18.0 over the preceding 30 days.
AT&T Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| T | CALL | SWEEP | BULLISH | 06/21/24 | $17.00 | $89.1K | 46.1K | 1.0K |
| T | CALL | TRADE | BEARISH | 10/18/24 | $18.00 | $72.9K | 2.7K | 1.1K |
| T | CALL | SWEEP | BULLISH | 06/20/25 | $17.00 | $53.4K | 6.8K | 300 |
| T | CALL | SWEEP | BEARISH | 01/17/25 | $13.00 | $50.1K | 6.7K | 20 |
| T | CALL | TRADE | BEARISH | 01/17/25 | $17.00 | $43.8K | 30.9K | 1.1K |
About AT&T
The wireless business contributes about two thirds of AT&T's revenue following the spinoff of Warner Media. The firm is the third-largest U.S. wireless carrier, connecting 71 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 17% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access. AT&T also has a sizable presence in Mexico, serving 22 million customers, but this business only accounts for 3% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
AT&T's Current Market Status
- Currently trading with a volume of 4,409,768, the T's price is down by -0.23%, now at $17.13.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 35 days.
What Analysts Are Saying About AT&T
1 market experts have recently issued ratings for this stock, with a consensus target price of $21.0.
- In a positive move, an analyst from Wolfe Research has upgraded their rating to Outperform and adjusted the price target to $21.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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