Target's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Recent options trading activity indicates a bearish stance on Target (NYSE:TGT) by big-money investors, with a notable split in sentiment: 33% bullish and 53% bearish. The analysis of volume and open interest suggests a price target range of $130.0 to $175.0 for TGT. The most significant options trades include both calls and puts, with a focus on strike prices around $160. Target, the nation's sixth-largest retailer, operates over 1,950 stores and generates over $100 billion in sales annually. The stock's current trading volume is 875,628, with a slight increase in price by 0.17%, and an earnings announcement is expected in 14 days.
May 08, 2024 | 5:46 pm
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Big-money investors are leaning bearish on Target, with options trading activity suggesting a price target range of $130 to $175. Target remains a significant player in the retail sector, with substantial sales and store count. An earnings announcement is expected soon, which could influence stock price movements.
The bearish sentiment among big-money investors, as indicated by the options trading activity, suggests a potential downside risk for Target's stock price in the short term. The anticipation of an earnings announcement adds to the uncertainty and potential volatility of the stock. The detailed analysis of options trades, including both calls and puts, with a higher total trade price for calls, indicates a complex market sentiment but with a lean towards bearishness. This, combined with Target's significant role in the retail sector and its upcoming earnings announcement, makes the news highly relevant and important for investors.
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IMPORTANCE 90
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