Starbucks Options Trading: A Deep Dive into Market Sentiment

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 33 uncommon options trades for Starbucks.

This isn't normal.

The overall sentiment of these big-money traders is split between 48% bullish and 39%, bearish.

Out of all of the special options we uncovered, 18 are puts, for a total amount of $859,357, and 15 are calls, for a total amount of $949,482.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $95.0 for Starbucks over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Starbucks's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Starbucks's significant trades, within a strike price range of $70.0 to $95.0, over the past month.

Starbucks Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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.

Where Is Starbucks Standing Right Now?

• With a volume of 8,742,028, the price of SBUX is up 2.86% at $77.43.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 74 days.

What Analysts Are Saying About Starbucks

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $88.4.

• An analyst from Stifel persists with their Hold rating on Starbucks, maintaining a target price of $80.
• Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for Starbucks, targeting a price of $100.
• Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Starbucks with a target price of $85.
• An analyst from Evercore ISI Group persists with their Outperform rating on Starbucks, maintaining a target price of $92.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Starbucks, targeting a price of $85.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Starbucks, Benzinga Pro gives you real-time options trades alerts.