Options Traders Betting That Target's Stock Will Fall This Much By September Expiration
Portfolio Pulse from Lisa Levin
Target Corporation (NYSE:TGT) reported its Q2 financial results, with earnings at $1.80 per share, up from 39 cents per share year-on-year, and revenue of $24.77 billion, down from $26.04 billion year-on-year. Options traders are betting on a 7% move post earnings release, with one buyer purchasing 1,200 of the September 120-puts at an average price of $4.80 per contract, implying a potential 5% fall in Target's stock by September expiration.
August 16, 2023 | 12:16 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Target's Q2 earnings report and the options market activity suggest a potential 5% fall in the stock by September expiration. This is based on the purchase of 1,200 September 120-puts at an average price of $4.80 per contract.
The options market activity, specifically the purchase of 1,200 September 120-puts, suggests a bearish sentiment towards Target's stock in the short term. This, combined with the Q2 earnings report, could potentially lead to a 5% fall in the stock by September expiration.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100