Investors with a lot of money to spend have taken a bullish stance on AT&T ( T ) .

And retail traders should know.

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

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for AT&T ( T ).

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $478,206, and 6 are calls, for a total amount of $575,159.

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 $22.0 to $30.0 for AT&T ( T ) over the last 3 months.

Analyzing Volume & Open Interest

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 ( T ) 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 ( T ) whale trades within a strike price range from $22.0 to $30.0 in the last 30 days.

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

Largest Options Trades Observed:

About AT&T

The wireless business contributes nearly 70% of AT&T's ( T ) revenue. The company is the third-largest US wireless carrier, connecting 74 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 14% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential services, about 11% of revenue, primarily consist of in-home broadband internet access, serving 15 million customers. AT&T ( T ) also has a sizable presence in Mexico, with 25 million wireless customers, but this business only accounts for 3% of revenue. The company recently sold its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.

After a thorough review of the options trading surrounding AT&T ( T ), we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of AT&T

Currently trading with a volume of 10,374,293, the T's price is down by -0.07%, now at $27.97.

RSI readings suggest the stock is currently may be overbought.

Anticipated earnings release is in 61 days.

Professional Analyst Ratings for AT&T

In the last month, 1 experts released ratings on this stock with an average target price of $27.0.

An analyst from Wells Fargo has decided to maintain their Overweight rating on AT&T ( T ), which currently sits at a price target of $27.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics.