Starbucks Unusual Options Activity For March 27

Investors with a lot of money to spend have taken a bullish stance on Starbucks SBUX.

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 SBUX, 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 11 uncommon options trades for Starbucks.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $177,240, and 5 are calls, for a total amount of $2,572,251.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $85.0 to $95.0 for Starbucks over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Starbucks stands at 6148.5, with a total volume reaching 4,015.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Starbucks, situated within the strike price corridor from $85.0 to $95.0, throughout the last 30 days.

Starbucks Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About Starbucks

Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.

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

Present Market Standing of Starbucks

• Trading volume stands at 1,244,814, with SBUX's price up by 1.54%, positioned at $91.75.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 34 days.

Expert Opinions on Starbucks

3 market experts have recently issued ratings for this stock, with a consensus target price of $101.33333333333333.

• Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Starbucks with a target price of $102.
• Reflecting concerns, an analyst from TD Cowen lowers its rating to Market Perform with a new price target of $102.
• An analyst from JP Morgan has decided to maintain their Overweight rating on Starbucks, which currently sits at a price target of $100.

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 Starbucks with Benzinga Pro for real-time alerts.