Benzinga | Dec 21, 2021 10:43AM EST

Target Whale Trades Spotted

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

Looking at options history for Target (NYSE:TGT) we detected 20 strange trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 16 are puts, for a total amount of $1,247,876 and 4, calls, for a total amount of $363,074.

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 $210.0 to $250.0 for Target over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $210.0 to $250.0 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 SWEEP BULLISH 12/23/ $240.00 $245.7K 3.1K 2.1K 21TGT PUT SWEEP BULLISH 12/23/ $240.00 $238.7K 3.1K 777 21TGT CALL SWEEP BEARISH 01/20/ $220.00 $237.1K 1.7K 145 23TGT PUT TRADE BEARISH 12/23/ $250.00 $150.5K 195 50 21TGT PUT SWEEP BULLISH 12/23/ $240.00 $89.0K 3.1K 2.4K 21

Where Is Target Standing Right Now?

* With a volume of 789,688, the price of TGT is down -0.56% at $217.97.

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

* Next earnings are expected to be released in 70 days.

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.