This Is What Whales Are Betting On AT&T

Investors with a lot of money to spend have taken a bullish stance on AT&T T.

And retail traders should know.

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

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for AT&T.

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, 4 are puts, for a total amount of $361,785, and 4 are calls, for a total amount of $216,188.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $18.5 to $23.0 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 $18.5 to $23.0 over the preceding 30 days.

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

Significant Options Trades Detected:

About AT&T

The wireless business contributes nearly 70% of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% 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, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% 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.

Present Market Standing of AT&T

• Currently trading with a volume of 9,145,496, the T's price is up by 0.64%, now at $19.64.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 61 days.

What Analysts Are Saying About AT&T

In the last month, 5 experts released ratings on this stock with an average target price of $21.2.

• Maintaining their stance, an analyst from RBC Capital continues to hold a Sector Perform rating for AT&T, targeting a price of $19.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for AT&T, targeting a price of $23.
• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for AT&T, targeting a price of $19.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on AT&T, which currently sits at a price target of $23.
• An analyst from Barclays has decided to maintain their Overweight rating on AT&T, which currently sits at a price target of $22.

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 AT&T, Benzinga Pro gives you real-time options trades alerts.