APPLETON, Wis. — Deep-pocketed investors, often referred to as "whales" in financial circles, have shown a notably bullish stance toward Charles Schwab Corporation (NYSE: SCHW), according to recent options trading data tracked by Benzinga. The activity, which unfolded on November 25, 2025, involved 32 extraordinary options trades, with a significant portion leaning positive, signaling potential optimism about the company's future performance.
This surge in unusual options activity comes at a time when Charles Schwab, one of the largest retail-oriented financial services firms in the United States, manages $11.6 trillion in client assets across its brokerage, banking, asset management, custody, financial advisory, and wealth-management businesses. The data from Benzinga highlights that 75% of these heavyweight investors are leaning bullish, while 18% appear bearish, based on the trades detected.
Among the notable trades, Benzinga reported 23 put options totaling $1,209,870 and 9 call options amounting to $661,540. These figures suggest a targeted price range for Schwab's stock from $57.5 to $110.0 over the last three months, as whales position themselves for potential movements in that band.
"Deep-pocketed investors have adopted a bullish approach towards Charles Schwab (NYSE:SCHW), and it's something market players shouldn't ignore," stated the Benzinga report, emphasizing the significance of such moves. The identity of these investors remains unknown, but the scale of the activity—unveiled through Benzinga's options scanner—indicates that "something big is about to happen," according to the outlet's analysis.
To provide context, Charles Schwab has long been a dominant player in the financial services industry. Headquartered in Westlake, Texas, the company is best known for its retail brokerage services but derives the majority of its revenue and profits from its banking and asset management segments. It holds over 40% market share in registered investment advisor custody and has expanded into wealth management with offerings like robo-advisory and direct indexing.
The recent options volume and open interest trends, as detailed in Benzinga's snapshot over the past 30 days, show heightened liquidity and interest in strikes between $57.5 and $110.0. This data is crucial for gauging market sentiment, with the report noting that examining volume and open interest "provides crucial insights into stock research."
Analyst perspectives align with this bullish sentiment to some extent. Five market experts recently issued ratings for Schwab, with a consensus target price of $121.6. For instance, an analyst from Barclays maintained an Overweight rating with a price target of $115. Similarly, Deutsche Bank persisted with a Buy rating and a $120 target.
Truist Securities also maintained a Buy rating, setting their target at $113, while Morgan Stanley continued to hold an Overweight rating with a notably higher target of $139. JP Morgan rounded out the group by maintaining an Overweight rating and a $121 target. These ratings reflect a generally positive outlook from Wall Street, though individual targets vary.
"An analyst from Barclays has decided to maintain their Overweight rating on Charles Schwab, which currently sits at a price target of $115," Benzinga reported, highlighting one of the specific updates. The report added, "Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Charles Schwab, targeting a price of $139."
This analyst consensus comes amid Schwab's strong positioning in the market. At the end of the third quarter, the company's client assets stood at $11.6 trillion, underscoring its scale. Schwab's push into managed-investment solutions has further bolstered its revenue streams, making it a key player in an industry facing evolving digital trends and regulatory landscapes.
However, not all signals are uniformly positive. The Benzinga data shows a division in investor mood, with 18% bearish positions amid the predominantly bullish trades. This split could reflect broader market uncertainties, such as interest rate fluctuations or competitive pressures in the financial sector.
Market observers note that options trading, while offering high rewards, carries significant risks. Benzinga cautioned that "options trading presents higher risks and potential rewards," advising traders to educate themselves and monitor indicators closely. The report encourages staying informed via real-time alerts to track such activities.
In the broader context, Charles Schwab's stock has been under scrutiny following industry shifts, including mergers and digital disruptions. The company's acquisition of TD Ameritrade in 2020 expanded its reach, but integration challenges and economic headwinds have occasionally pressured performance. Still, the recent whale activity suggests confidence in Schwab's resilience and growth potential.
Looking ahead, investors will watch for any catalysts that could drive the stock toward the projected targets. With the consensus analyst price at $121.6—well above recent trading levels around $80 to $90—this bullish whale interest could foreshadow upward momentum. Benzinga described it as "Unusual Options Activity Detected: Smart Money on the Move," urging market players to pay attention.
The implications extend beyond Schwab, potentially signaling broader optimism in the financial services sector. As whales continue to place large bets, retail investors and analysts alike will monitor developments closely, especially with year-end market dynamics at play in late 2025.