Benzinga | Jan 7, 2022 01:08PM EST

What Are Whales Doing With AT&T

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

Looking at options history for AT&T (NYSE:T) we detected 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $104,140 and 10, calls, for a total amount of $373,334.

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 $20.0 to $30.0 for AT&T 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 AT&T'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 AT&T's whale activity within a strike price range from $20.0 to $30.0 in the last 30 days.

AT&T 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 InterestT PUT TRADE BEARISH 01/21/ $30.00 $79.0K 61.0K 206 22T CALL TRADE NEUTRAL 07/15/ $20.00 $65.3K 1.0K 1.1K 22T CALL SWEEP BEARISH 01/14/ $26.00 $54.0K 8.9K 3.2K 22T CALL SWEEP BULLISH 03/18/ $22.00 $47.1K 1.2K 114 22T CALL TRADE BULLISH 01/20/ $20.00 $32.7K 7.1K 532 23

Where Is AT&T Standing Right Now?

* With a volume of 24,742,188, the price of T is up 1.49% at $26.5.

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

* Next earnings are expected to be released in 19 days.

What The Experts Say On AT&T:

* Daiwa Capital downgraded its action to Neutral with a price target of $26

* Wells Fargo upgraded its action to Equal-Weight with a price target of $27

* Barclays upgraded its action to Overweight with a price target of $30

* Morgan Stanley upgraded its action to Overweight with a price target of $28

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.