Looking At Target's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Target (NYSE:TGT) as observed from unusual options activity. The sentiment among big-money traders is split between 45% bullish and 54% bearish. Whales have been targeting a price range from $125.0 to $150.0 for Target over the last 3 months. The price of TGT is up 1.26% at $136.16, with RSI indicators suggesting the stock may be approaching overbought. Target's next earnings are expected in 20 days.
July 27, 2023 | 3:32 pm
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Unusual options activity indicates a significant bearish stance on Target. The stock price is up 1.26% at $136.16, with indications of being overbought. Next earnings are expected in 20 days.
The unusual options activity, with a significant bearish stance, indicates that investors are expecting a potential drop in Target's stock price. The current price increase and indications of being overbought further support this expectation. The upcoming earnings release could also influence the stock's performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100