Deep-pocketed investors have adopted a bullish approach towards e.l.f. Beauty ELF, 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 ELF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for e.l.f. Beauty. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $50,800, and 6 are calls, amounting to $253,602.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $180.0 and $220.0 for e.l.f. Beauty, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in e.l.f. Beauty's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to e.l.f. Beauty's substantial trades, within a strike price spectrum from $180.0 to $220.0 over the preceding 30 days.
e.l.f. Beauty 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELF | CALL | TRADE | BEARISH | 09/20/24 | $21.4 | $21.2 | $21.2 | $220.00 | $63.6K | 167 | 0 |
| ELF | CALL | TRADE | BULLISH | 07/19/24 | $19.0 | $18.0 | $19.0 | $200.00 | $57.0K | 368 | 6 |
| ELF | CALL | TRADE | BULLISH | 07/19/24 | $13.4 | $13.1 | $13.4 | $210.00 | $40.2K | 980 | 13 |
| ELF | CALL | SWEEP | BEARISH | 08/16/24 | $33.6 | $33.0 | $33.0 | $190.00 | $33.0K | 137 | 13 |
| ELF | CALL | TRADE | NEUTRAL | 08/16/24 | $34.1 | $31.7 | $33.0 | $190.00 | $33.0K | 137 | 3 |
About e.l.f. Beauty
e.l.f. Beauty Inc is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty-free cosmetics and skin care products. The Company's mission is to make the best of beauty accessible to every eye, lip, face, and skin concern. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out sales within the US and internationally, out of which maximum revenue is generated from the US.
Following our analysis of the options activities associated with e.l.f. Beauty, we pivot to a closer look at the company's own performance.
Present Market Standing of e.l.f. Beauty
- With a trading volume of 179,490, the price of ELF is down by -0.36%, reaching $212.97.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 40 days from now.
Expert Opinions on e.l.f. Beauty
5 market experts have recently issued ratings for this stock, with a consensus target price of $216.4.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $182.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $235.
- An analyst from B of A Securities has decided to maintain their Buy rating on e.l.f. Beauty, which currently sits at a price target of $220.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $210.
- An analyst from Raymond James has revised its rating downward to Strong Buy, adjusting the price target to $235.
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 e.l.f. Beauty, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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