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Benzinga Insights

Looking At Target's Recent Whale Trades

Someone with a lot of money to spend has taken a bullish 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 18 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $507,519, and 7 are calls, for a total amount of $382,049.

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 $130.0 to $250.0 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 $130.0 to $250.0 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 PUT TRADE BEARISH 01/20/23 $250.00 $133.2K 1.6K 15
TGT CALL SWEEP BULLISH 01/19/24 $160.00 $113.1K 395 43
TGT PUT SWEEP BEARISH 01/20/23 $185.00 $90.9K 2.9K 30
TGT CALL SWEEP BULLISH 08/19/22 $130.00 $81.3K 1.1K 61
TGT PUT SWEEP BULLISH 08/19/22 $145.00 $55.8K 5.1K 487

Where Is Target Standing Right Now?

  • With a volume of 1,478,882, the price of TGT is up 1.4% at $161.65.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 19 days.

What The Experts Say On Target:

  • Tigress Financial has decided to maintain their Buy rating on Target, which currently sits at a price target of $215.
  • Piper Sandler downgraded its action to Neutral with a price target of $190

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 Target, Benzinga Pro gives you real-time options trades alerts.

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