Target Unusual Options Activity For July 03
Investors with a lot of money to spend have taken a bearish stance on Target (NYSE: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 10 uncommon options trades for Target.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 50%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $113,973, and 7 are calls, for a total amount of $466,826.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $138.0 to $170.0 for Target during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Target stands at 728.0, with a total volume reaching 2,641.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Target, situated within the strike price corridor from $138.0 to $170.0, throughout the last 30 days.
Target 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TGT | CALL | TRADE | BEARISH | 01/17/25 | $14.4 | $13.25 | $13.4 | $145.00 | $268.0K | 1.5K | 0 |
| TGT | PUT | TRADE | BEARISH | 08/16/24 | $26.25 | $24.1 | $25.53 | $170.00 | $53.6K | 5 | 0 |
| TGT | CALL | SWEEP | BULLISH | 07/12/24 | $2.38 | $2.36 | $2.38 | $144.00 | $41.8K | 66 | 478 |
| TGT | CALL | SWEEP | BULLISH | 07/12/24 | $2.38 | $2.37 | $2.38 | $144.00 | $39.0K | 66 | 14 |
| TGT | CALL | TRADE | BULLISH | 07/12/24 | $1.08 | $1.01 | $1.08 | $148.00 | $33.5K | 770 | 8 |
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 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
Present Market Standing of Target
- Trading volume stands at 1,632,726, with TGT's price down by -0.3%, positioned at $144.95.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 42 days.
What The Experts Say On Target
1 market experts have recently issued ratings for this stock, with a consensus target price of $166.0.
- An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Target, which currently sits at a price target of $166.
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.