At-the-money put buys in Target at the opening bell
At-the-money put buys in Target at the opening bell. Shares off 40c to $80 and Jun 80s trade $1.95 and 1.98 per contract. 4.1K changed hands against 1.6K open interest and the bearish flow comes a little more than one week after shares rallied 7.8% to $77.56 on 5/22 after earnings. Put buying expresses concerns that the stock, which is up 21% YTD, will give back gains over the next three weeks.