tsla

Put Traders Blast Plummeting Target Stock

The retail giant announced that profits were halved this quarter

Deputy Editor
May 18, 2022 at 10:27 AM
facebook X logo linkedin


Just like sector peer Walmart (WMT), retail stock Target Corp (NYSE:TGT) is taking a nosedive this morning, down 24.1% to trade at $163.45 at last check, after the company's first-quarter report. The results themselves were mixed, with earnings of $2.19 missing estimates of $3.07, while revenue of $25.17 billion beat the anticipated $24.49 billion. However, the retailer announced that profits were cut in half this quarter amid high costs and supply chain issues. CEO Brian Cornell stated "we were less profitable than we expected to be or intend to be over time." 

Target stock was already on its way lower ahead of the earnings event. Now, TGT is trading at its lowest levels since November 2020, and headed for its worst day ever on record. Year-to-date, the shares were contending with their breakeven level prior to today's collapse.

Options bears are sharp-sighted this morning, with 133,000 puts exchanged so far -- 46 times the intraday average -- compared to 55,000 calls. The May 150 put is the most popular by far, followed by the 160 put in the same monthly series, with new positions being opened at both. It's also worth noting that TGT has landed on the short sale restricted (SSR) list today amid the volatile price action. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.