January 31, 2023

AT&T Inc. (NYSE:T) – What Are Whales Doing With AT&T

A whale with a lot of money to spend has taken a noticeably bullish stance on AT&T.

Looking at options history for AT&T (NYSE:T) we detected 15 strange trades.

If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $651,220 and 9, calls, for a total amount of $669,819.

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 $20.0 to $26.0 for AT&T over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $20.0 to $26.0 in the last 30 days.

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

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
T PUT SWEEP BULLISH 01/21/22 $26.00 $263.0K 49.0K 2.6K
T PUT SWEEP BEARISH 03/18/22 $25.00 $240.3K 36.5K 3.6K
T CALL TRADE BULLISH 01/19/24 $23.00 $200.3K 12.5K 1.4K
T CALL SWEEP BEARISH 01/20/23 $23.00 $143.0K 21.1K 808
T CALL SWEEP BULLISH 01/07/22 $25.50 $79.5K 23.1K 25.3K

Where Is AT&T Standing Right Now?

  • With a volume of 39,995,359, the price of T is up 3.72% at $25.52.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 23 days.

What The Experts Say On AT&T:

  • Citigroup has decided to maintain their Buy rating on AT&T, which currently sits at a price target of $29.
  • Morgan Stanley upgraded its action to Overweight with a price target of $28
  • Barclays upgraded its action to Overweight with a price target of $30
  • Daiwa Capital downgraded its action to Neutral with a price target of $26

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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