Target Stock Extends Bounce After Dividend Hike

TGT shed 17.6% over the past nine months

Digital Content Manager
Jun 15, 2023 at 10:53 AM
facebook X logo linkedin

Target Corp (NYSE:TGT) stock is up 2% at $135.97 this morning, after the retailer said it will hike dividends to $1.10 per share, or 1.9%. Target has been engulfed in controversy of late, after pulling some of its LGBTQ-themed products from stores amid customer backlash.

The security is bouncing off a June 12, three-year low of $125.08, and pacing for its third-straight daily win. The 20-day moving average is still keeping a lid on today's rally, though, and TGT has shed 17.6% in the past nine months.

Options bulls are chiming in, with 66,000 calls across the tape so far -- four time the intraday average -- compared to 16,000 puts. Most popular is the June 140 call, with positions being opened there. This means traders expect more upside for TGT before tomorrow's close, when these contracts expire.

This penchant for bullish bets has been the norm lately, per the stock's 10-day call/put volume ratio of 1.90 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 89% of readings from the past year. 

Now could be a good opportunity to weigh on Target stock's next moves with options, per its Schaeffer's Volatility Index (SVI) of 29%, which ranks at the 7th percentile of readings in its annual range.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI