Option traders moderately bearish in Target with shares down 0.85%

Option traders moderately bearish in Target (TGT), with shares down 81c near $94.25.Options volume relatively light with 21k contracts traded and puts leading calls for a put/call ratio of 1.39, compared to a typical level near 0.98. Implied volatility (IV30) is higher by 0.8 points near 34.45,and above the 52wk median, suggesting an expected daily move of $2.05. Put-call skew flattened, suggesting a modestly bullish tone. following a downgrade to Market Perform at Telsey Advisory.