Benzinga | Jan 14, 2022 02:18PM EST

What Are Whales Doing With 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 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 7% of the investors opened trades with bullish expectations and 92% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $284,973 and 4, calls, for a total amount of $485,861.

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 $217.5 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 $217.5 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 CALL TRADE BEARISH 02/18/ $240.00 $381.5K 1.8K 3.9K 22TGT PUT SWEEP BEARISH 01/21/ $217.50 $41.7K 1.0K 328 22TGT CALL SWEEP BULLISH 03/18/ $230.00 $36.6K 1.7K 123 22TGT CALL SWEEP BEARISH 02/18/ $240.00 $36.6K 1.8K 4.3K 22TGT PUT TRADE BEARISH 01/14/ $227.50 $35.7K 3.5K 158 22

Where Is Target Standing Right Now?

* With a volume of 2,487,569, the price of TGT is down -2.42% at $220.36.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 46 days.

What The Experts Say On Target:

* Truist Securities downgraded its action to Buy with a price target of $270

* Wells Fargo downgraded its action to Equal-Weight with a price target of $230

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.