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What Are Whales Doing With AT&T

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Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on AT&T(NYSE:T).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with T, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for AT&T.

This isn't normal.

The overall sentiment of these big-money traders is split between 27.27% bullish and 72.73%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $342,234, and 4 are calls, for a total amount of $216,845.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $24.0 to $28.0 for AT&T over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for AT&T's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AT&T's whale trades within a strike price range from $24.0 to $28.0 in the last 30 days.

AT&T Option Volume And Open Interest Over Last 30 Days

Options Call Chart
Options Call Chart

Biggest Options Spotted:

T

PUT

SWEEP

BEARISH

01/21/22

$25.00

$81.5K

74.6K

3.0K

T

CALL

TRADE

NEUTRAL

10/22/21

$25.00

$67.5K

641

463

T

PUT

SWEEP

BULLISH

12/17/21

$25.00

$65.9K

5.6K

1.8K

T

CALL

SWEEP

BEARISH

01/21/22

$25.00

$63.7K

23.5K

308

T

CALL

TRADE

BEARISH

01/21/22

$24.00

$54.8K

300

491

Where Is AT&T Standing Right Now?

  • With a volume of 18,475,824, the price of T is down -1.42% at $26.39.

  • RSI indicators hint that the underlying stock may be approaching oversold.

  • Next earnings are expected to be released in 10 days.

What The Experts Say On AT&T:

  • Barclays has decided to maintain their Equal-Weight rating on AT&T, which currently sits at a price target of $30.0.

  • Loop Capital downgraded its action to Hold with a price target of $30.0

  • MoffettNathanson upgraded its action to Neutral with a price target of $28.0

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

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