This Is What Whales Are Betting On Target

By Benzinga Insights

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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 21 uncommon options trades for Target.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $195,769, and 17 are calls, for a total amount of $779,760.

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 $115.0 to $310.0 for Target over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Target options trades today is 984.82 with a total volume of 2,345.00.

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 $115.0 to $310.0 over 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 TRADE NEUTRAL 01/28/22 $235.00 $103.6K 472 417
TGT CALL SWEEP BULLISH 02/18/22 $230.00 $97.3K 1.9K 516
TGT PUT SWEEP BULLISH 01/14/22 $225.00 $95.0K 1.1K 254
TGT CALL TRADE NEUTRAL 03/18/22 $150.00 $75.4K 3 11
TGT CALL SWEEP BULLISH 05/20/22 $220.00 $68.6K 0 43

Where Is Target Standing Right Now?

  • With a volume of 2,970,649, the price of TGT is down -1.48% at $227.36.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 50 days.

What The Experts Say On Target:

  • Wells Fargo downgraded its action to Equal-Weight with a price target of $230

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.


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