Unpacking the Latest Options Trading Trends in Target

Author: Benzinga Insights | August 06, 2024 11:46am

Financial giants have made a conspicuous bearish move on Target. Our analysis of options history for Target (NYSE:TGT) revealed 11 unusual trades.

Delving into the details, we found 36% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $162,123, and 6 were calls, valued at $482,318.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $130.0 to $155.0 for Target over the recent three months.

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 $130.0 to $155.0, over the past month.

Target Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
TGT	CALL	TRADE	BEARISH	09/06/24	$9.3	$9.2	$9.2	$130.00	$230.0K	1	250
TGT	CALL	SWEEP	BULLISH	10/18/24	$11.5	$11.35	$11.5	$130.00	$63.4K	32	330
TGT	CALL	SWEEP	NEUTRAL	10/18/24	$11.8	$11.2	$11.64	$130.00	$62.1K	32	275
TGT	CALL	TRADE	BULLISH	10/18/24	$7.3	$7.15	$7.25	$140.00	$50.0K	239	158
TGT	CALL	SWEEP	BULLISH	10/18/24	$7.3	$7.15	$7.24	$140.00	$49.7K	239	227

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 leading 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.

Following our analysis of the options activities associated with Target, we pivot to a closer look at the company's own performance.

Where Is Target Standing Right Now?

• Currently trading with a volume of 1,684,118, the TGT's price is down by -0.38%, now at $133.36.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 15 days.

Expert Opinions on Target

3 market experts have recently issued ratings for this stock, with a consensus target price of $155.0.

• Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Target, targeting a price of $156.
• Reflecting concerns, an analyst from Piper Sandler lowers its rating to Neutral with a new price target of $156.
• An analyst from JP Morgan has decided to maintain their Neutral rating on Target, which currently sits at a price target of $153.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Target options trades with real-time alerts from Benzinga Pro.

Posted In: TGT