Deep-pocketed investors have adopted a bullish approach towards AT&T ( T ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in T usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for AT&T ( T ). This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 44% leaning bullish and 33% bearish. Among these notable options, 2 are puts, totaling $168,649, and 7 are calls, amounting to $440,712.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $28.0 for AT&T ( T ) over the recent three months.

Insights into Volume & Open Interest

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 ( 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 activity within a strike price range from $20.0 to $28.0 in the last 30 days.

AT&T 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About AT&T

The wireless business contributes nearly 70% of AT&T's ( T ) revenue. The firm is the third-largest US wireless carrier, connecting 73 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 15% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T ( T ) also has a sizable presence in Mexico, with 24 million customers, but this business only accounts for 3% of revenue. The firm has agreed to sell its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.

Where Is AT&T Standing Right Now?

Currently trading with a volume of 30,343,852, the T's price is up by 0.38%, now at $27.52.

RSI readings suggest the stock is currently is currently neutral between overbought and oversold.

Anticipated earnings release is in 0 days.

What The Experts Say On AT&T

4 market experts have recently issued ratings for this stock, with a consensus target price of $31.25.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.

* An analyst from Wells Fargo has decided to maintain their Overweight rating on AT&T ( T ), which currently sits at a price target of $31.

* An analyst from B of A Securities downgraded its action to Buy with a price target of $32.

* An analyst from Morgan Stanley has decided to maintain their Overweight rating on AT&T ( T ), which currently sits at a price target of $32.

* Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for AT&T ( T ), targeting a price of $30.

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. Keep up with the latest options trades for AT&T ( T ) with Benzinga Pro for real-time alerts.