Someone with a lot of money to spend has taken a bearish stance on Target (NYSE:TGT).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with TGT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Target.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $59,100, and 10, calls, for a total amount of $997,319..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $210.0 to $235.0 for Target over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Target's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Target's whale trades within a strike price range from $210.0 to $235.0 in the last 30 days.
Target Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TGT | CALL | SWEEP | BEARISH | 04/14/22 | $210.00 | $235.0K | 1.2K | 242 |
| TGT | CALL | SWEEP | BEARISH | 04/14/22 | $210.00 | $140.9K | 1.2K | 62 |
| TGT | CALL | SWEEP | BEARISH | 04/14/22 | $210.00 | $140.5K | 1.2K | 122 |
| TGT | CALL | TRADE | BULLISH | 04/14/22 | $210.00 | $135.9K | 1.2K | 122 |
| TGT | CALL | SWEEP | BEARISH | 04/14/22 | $210.00 | $132.3K | 1.2K | 242 |
Where Is Target Standing Right Now?
- With a volume of 673,879, the price of TGT is down -0.45% at $232.28.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 37 days.
What The Experts Say On Target:
- Gordon Haskett upgraded its action to Buy with a price target of $300
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.
