Darden Restaurants's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bullish stance on Darden Restaurants.

Looking at options history for Darden Restaurants DRI we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 30% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $1,323,880 and 7, calls, for a total amount of $351,341.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $160.0 for Darden Restaurants over the recent three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Darden Restaurants stands at 534.9, with a total volume reaching 3,086.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Darden Restaurants, situated within the strike price corridor from $80.0 to $160.0, throughout the last 30 days.

Darden Restaurants Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Darden Restaurants

Darden Restaurants is the largest restaurant operator in the U.S. full-service space, with consolidated revenue of $10.5 billion in fiscal 2023 resulting in 3%-4% full-service market share (per NRA data and our calculations). The company maintains a portfolio of 10 restaurant brands: Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Ruth's Chris, Yard House, The Capital Grille, Seasons 52, Eddie V's, Bahama Breeze, and The Capital Burger. Darden generates revenue almost exclusively from company-owned restaurants, though a small network of franchised restaurants and consumer-packaged goods sales through the traditional grocery channel contribute modestly. As of the end of its fiscal 2023, the company operated 1,914 restaurants in the U.S.

Following our analysis of the options activities associated with Darden Restaurants, we pivot to a closer look at the company's own performance.

Darden Restaurants's Current Market Status

• Trading volume stands at 1,200,422, with DRI's price down by -0.5%, positioned at $152.81.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 2 days.

What Analysts Are Saying About Darden Restaurants

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $174.6.

• Reflecting concerns, an analyst from Raymond James lowers its rating to Outperform with a new price target of $167.
• An analyst from TD Cowen has decided to maintain their Buy rating on Darden Restaurants, which currently sits at a price target of $170.
• An analyst from B of A Securities persists with their Buy rating on Darden Restaurants, maintaining a target price of $180.
• An analyst from Citigroup persists with their Buy rating on Darden Restaurants, maintaining a target price of $191.
• Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Darden Restaurants, targeting a price of $165.

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