Benzinga | Dec 13, 2021 01:18PM EST

This Is What Whales Are Betting On Target

A whale with a lot of money to spend has taken a noticeably bearish stance on Target.

Looking at options history for Target (NYSE:TGT) we detected 21 strange trades.

If we consider the specifics of each trade, it is accurate to state that 38.1% of the investors opened trades with bullish expectations and 61.9% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $1,102,795.00 and 12, calls, for a total amount of $1,396,124.00.

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 $60.0 to $270.0 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 $60.0 to $270.0 in the last 30 days.

Target Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:



Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestTGT PUT TRADE BULLISH 01/21/ $230.00 $545.0K 3.4K 1.0K 22TGT CALL SWEEP BULLISH 12/17/ $210.00 $538.2K 895 441 21TGT CALL SWEEP BULLISH 12/17/ $215.00 $295.3K 461 171 21TGT PUT TRADE NEUTRAL 01/21/ $220.00 $240.0K 3.5K 775 22TGT CALL SWEEP NEUTRAL 12/17/ $215.00 $161.2K 461 261 21

Where Is Target Standing Right Now?

* With a volume of 1,820,437.00, the price of TGT is down -2.03% at $233.35.

* RSI indicators hint that the underlying stock may be oversold.

* Next earnings are expected to be released in 78 days.

What The Experts Say On Target:

* Raymond James has decided to maintain their Strong Buy rating on Target, which currently sits at a price target of $290.0.

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.