Costco's $94.4 Million Options Day Runs 80% Calls, Target Holds 86% Calls on a Down Day, Walmart Bull Flag: Big-Box Data for Suppliers and Carriers (GTA Terminal, November 12, 2026)

Big-box retailers are some of the largest customers in the country for freight carriers, warehouse operators, store builders, refrigeration techs and parking-lot contractors. When Walmart, Costco and Target draw heavy option money, it is a read on how traders see holiday-season demand, and holiday demand drives truckloads, store resets and service calls. Here is what GTA Terminal data from Global Traders Academy showed for all three on Thursday, November 12, 2026.

Costco: a $94.4 million options day, 80% in calls

Costco closed up 0.42% at $1,092.21. Over the session, $94.4M in options premium traded: $75.4M in calls and $19.0M in puts, so 80% of the money was in calls. The put/call volume ratio was 1.1, meaning slightly more put contracts than calls changed hands, even though the dollars leaned heavily to calls. Thirteen option series traded more contracts than their open interest, a sign of new positions. Dark-pool volume was normal at 774,579 shares, 1.0x the 20-session average and 37.2% of volume. The stock sat 1% below its 52-week high with an RSI of 72, in overbought territory. The Costco call and put tally tracks it session by session.

Target: shares slip, call money holds at 86%

Target was the odd one out on price. It closed down 1.11% at $160.90, yet $13.6M in options premium traded, $11.6M in calls and $2.0M in puts, for 86% calls and a put/call volume ratio of 0.64. Earlier in the day, at 11:59 AM, the call share had been 91% on $3.8M. In the latest off-exchange data (November 11), 1,099,345 Target shares traded in dark pools, 0.8x normal. The trend stayed up, with support at $156.42 and resistance at $167.60. The Target closing flow report for November 12 has the session in one place.

Walmart: a bull flag with the options money agreeing

Walmart rose 0.4% to $126.19. Options traders put $21.8M to work, $13.3M in calls and $8.5M in puts, 61% calls, with a put/call volume ratio of 0.66. The biggest unusual trade was 1,828 November 20 calls, about $667K in premium against 632 contracts of open interest. The GTA Proprietary Pattern Model shows a bullish bull flag on Walmart's daily chart, with the move underway after a break at $119.91, at Level 2 of 5 confidence. Dark-pool volume was 6,082,453 shares, 0.9x normal and 35.4% of volume, up from 22.8% on November 11. See the Walmart options activity page for the latest.

What it means for suppliers, carriers and store contractors

• Holiday freight looks supported. All three retailers leaned toward calls by dollars. Carriers and warehouse operators serving big-box distribution centers have a reason to keep trucks and forklifts ready for peak weeks.

• Not every signal agrees. Costco is overbought and traded more put contracts than calls; Target slipped on the day despite call money. Plan for steady demand, not a guaranteed surge.

• Store work and resets. Retailers that expect a strong season keep spending on refrigeration, lighting and remodels. Contractors in that line may see steady bids into early next year.

• Reading the bets. The options and dark pool data from Global Traders Academy pairs well with the earlier reads below, and this explainer on big option bets in retailers covers what such trades can and cannot show.

Compare this session with our look at Walmart and Target dark pools on November 11 and Costco's $81.9 million options day a session earlier.

A word of caution

Options flow and dark-pool volume are a signal, not a guarantee. Large call positions can be part of hedged strategies, and retail stocks move on data releases that no options trader can predict. This is not investment advice. Use it alongside your own order book and customer conversations.

Gear up for peak season with BFC

If your business hauls, stores or services goods for the big retailers, BFC Equipment Loans finances trucks, trailers, forklifts, reach trucks and service vans so you can add capacity before the busy weeks. Apply for equipment financing and get a fast quote.