Target's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Target Corporation (NYSE:TGT) has seen a surge in options activity, with a notable division in sentiment among investors. Benzinga's options scanner detected 17 unusual options activities, with 58% bullish and 41% bearish. The options suggest a targeted price range of $120 to $175 for Target over the last 3 months. The most significant options trades include bearish puts and bullish calls with various expiration dates and strike prices. Target is the sixth-largest retailer in the U.S., with over 1,900 stores and annual sales over $100 billion. The stock price is currently up 0.73% at $143.46, with potential overbought signals from RSI indicators. Target's next earnings report is expected in 56 days.

January 02, 2024 | 4:00 pm
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NEUTRAL IMPACT
Target Corporation has experienced significant options trading activity, indicating investor speculation on future price movements. The stock is currently up, but RSI indicators suggest it may be overbought.
The mixed sentiment in options activity, with a slight bullish lean, suggests uncertainty about Target's short-term price direction. The current uptick in price and the overbought RSI indicators could lead to a temporary stabilization or pullback in the stock price. The importance is high due to the substantial trade prices and volume, but confidence is not at the maximum because the market's reaction to options activity can be unpredictable.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100