Deep-pocketed investors have adopted a bullish approach towards Starbucks SBUX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SBUX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 52% leaning bullish and 39% bearish. Among these notable options, 2 are puts, totaling $133,584, and 21 are calls, amounting to $7,461,973.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $90.0 for Starbucks during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Starbucks's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Starbucks's whale trades within a strike price range from $75.0 to $90.0 in the last 30 days.
Starbucks 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | CALL | TRADE | BULLISH | 06/18/26 | $15.05 | $14.4 | $15.2 | $75.00 | $4.8M | 8.8K | 3.2K |
| SBUX | CALL | TRADE | BEARISH | 01/17/25 | $5.3 | $5.15 | $5.2 | $82.50 | $1.0M | 1.3K | 2.0K |
| SBUX | CALL | SWEEP | BEARISH | 08/16/24 | $3.6 | $3.5 | $3.55 | $80.00 | $347.5K | 11.4K | 1.0K |
| SBUX | CALL | SWEEP | BEARISH | 08/16/24 | $3.55 | $3.5 | $3.5 | $80.00 | $227.1K | 11.4K | 2.1K |
| SBUX | CALL | TRADE | BEARISH | 08/16/24 | $0.92 | $0.82 | $0.85 | $90.00 | $160.0K | 3.5K | 1.8K |
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.
Starbucks's Current Market Status
- With a volume of 2,520,811, the price of SBUX is up 0.27% at $77.69.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 62 days.
Professional Analyst Ratings for Starbucks
In the last month, 5 experts released ratings on this stock with an average target price of $87.2.
- 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 UBS continues to hold a Neutral rating for Starbucks, targeting a price of $85.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Starbucks with a target price of $85.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Starbucks, which currently sits at a price target of $90.
- An analyst from HSBC has decided to maintain their Hold rating on Starbucks, which currently sits at a price target of $84.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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