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Barchart
Barchart
Mark R. Hake, CFA

Target Stock Overreaction - Huge Unusual Put Option Volume Signals TGT's Drop is Overdone

TGT Target Target Corp

Today, a large and unusual volume of Target Corp (TGT) put options traded in a long-dated expiry period. This means investors' worries about Target may be overdone. Short-sellers of these puts made an 8% yield and a 20% lower breakeven.

TGT is down over 21.7% at $121.13 in midday trading after the company reported disappointing earnings this morning and was cautious about the upcoming holiday season.

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