What the Options Market Tells Us About Target

Investors with a lot of money to spend have taken a bullish stance on Target TGT.

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 TGT, 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 12 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 33%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $87,793, and 9 are calls, for a total amount of $383,003.

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 $125.0 to $180.0 for Target over the last 3 months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Target options trades today is 756.88 with a total volume of 1,888.00.

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 $125.0 to $180.0 over the last 30 days.

Target 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Target

Target serves as the nation's seventh-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 leading US retailer. Today, Target operates over 1,950 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.

Having examined the options trading patterns of Target, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Target's Current Market Status

• With a trading volume of 3,372,404, the price of TGT is up by 3.2%, reaching $152.01.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 12 days from now.

What The Experts Say On Target

In the last month, 2 experts released ratings on this stock with an average target price of $166.5.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Target, which currently sits at a price target of $165. * An analyst from Bernstein downgraded its action to Market Perform with a price target of $168.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Target options trades with real-time alerts from Benzinga Pro.