Spotlight on Target: Analyzing the Surge in Options Activity

Author: Benzinga Insights | September 09, 2024 12:00pm

Financial giants have made a conspicuous bullish move on Target. Our analysis of options history for Target (NYSE:TGT) revealed 10 unusual trades.

Delving into the details, we found 60% of traders were bullish, while 20% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $618,124, and 3 were calls, valued at $131,846.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $155.0 for Target over the last 3 months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Target's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Target's substantial trades, within a strike price spectrum from $120.0 to $155.0 over the preceding 30 days.

Target 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
TGT	PUT	TRADE	BULLISH	12/18/26	$11.95	$11.15	$11.4	$120.00	$228.0K	329	200
TGT	PUT	TRADE	BULLISH	02/21/25	$10.3	$9.85	$9.95	$150.00	$169.1K	165	170
TGT	PUT	SWEEP	BEARISH	09/20/24	$4.4	$4.4	$4.4	$155.00	$69.1K	1.7K	161
TGT	CALL	SWEEP	BULLISH	09/20/24	$8.7	$8.4	$8.7	$144.00	$54.8K	842	0
TGT	PUT	SWEEP	BEARISH	09/20/24	$4.6	$4.55	$4.55	$155.00	$51.4K	1.7K	299

About Target

Target serves as the nation's seventh-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.

In light of the recent options history for Target, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Target

• Trading volume stands at 1,166,538, with TGT's price up by 0.15%, positioned at $151.51.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 65 days.

What The Experts Say On Target

In the last month, 5 experts released ratings on this stock with an average target price of $178.0.

• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Target with a target price of $160.
• An analyst from Jefferies persists with their Buy rating on Target, maintaining a target price of $195.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on Target, which currently sits at a price target of $180.
• An analyst from Telsey Advisory Group persists with their Outperform rating on Target, maintaining a target price of $190.
• Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on Target with a target price of $165.

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.

Posted In: TGT