Behind the Scenes of Target's Latest Options Trends

Target Corporation -1.02%

Target Corporation




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 60%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $650,340, and 6 are calls, for a total amount of $1,045,157.

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 $150.0 to $200.0 for Target during the past quarter.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Target's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Target's significant trades, within a strike price range of $150.0 to $200.0, over the past month.

Target 30-Day Option Volume & Interest Snapshot

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
TGT CALL TRADE BULLISH 01/17/25 $13.0 $12.85 $13.0 $190.00 $780.0K 682 0
TGT PUT TRADE BEARISH 06/21/24 $8.15 $8.0 $8.1 $175.00 $567.0K 331 16
TGT CALL TRADE BEARISH 06/21/24 $1.9 $1.84 $1.85 $200.00 $155.0K 2.1K 932
TGT CALL TRADE BEARISH 05/17/24 $22.75 $22.05 $22.3 $155.00 $31.2K 441 16
TGT PUT TRADE BEARISH 04/05/24 $1.4 $1.4 $1.4 $175.00 $30.6K 594 779

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 top 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

Where Is Target Standing Right Now?

  • Currently trading with a volume of 1,183,195, the TGT's price is up by 0.61%, now at $175.73.
  • RSI readings suggest the stock is currently may be overbought.
  • Anticipated earnings release is in 48 days.

What Analysts Are Saying About Target

5 market experts have recently issued ratings for this stock, with a consensus target price of $180.2.

  • An analyst from JP Morgan persists with their Neutral rating on Target, maintaining a target price of $180.
  • Showing optimism, an analyst from HSBC upgrades its rating to Buy with a revised price target of $195.
  • An analyst from JP Morgan has decided to maintain their Neutral rating on Target, which currently sits at a price target of $157.
  • In a cautious move, an analyst from Oppenheimer downgraded its rating to Outperform, setting a price target of $200.
  • Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Target, targeting a price of $169.

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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