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 8 uncommon options trades for Starbucks.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 37%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $304,989, and 4 are calls, for a total amount of $145,278.
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 $60.0 and $90.0 for Starbucks, spanning the last three months.
Insights into Volume & Open Interest
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 $60.0 to $90.0 in the last 30 days.
Starbucks Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | SWEEP | BEARISH | 10/18/24 | $12.0 | $11.9 | $12.0 | $90.00 | $187.1K | 623 | 0 |
| SBUX | CALL | SWEEP | BULLISH | 01/16/26 | $7.45 | $7.35 | $7.45 | $90.00 | $57.3K | 15.5K | 0 |
| SBUX | PUT | SWEEP | BULLISH | 08/16/24 | $4.4 | $4.3 | $4.35 | $80.00 | $43.9K | 8.5K | 7 |
| SBUX | PUT | SWEEP | BEARISH | 12/18/26 | $4.45 | $4.45 | $4.45 | $60.00 | $40.0K | 94 | 0 |
| SBUX | PUT | SWEEP | NEUTRAL | 08/16/24 | $4.3 | $4.25 | $4.3 | $80.00 | $33.8K | 8.5K | 180 |
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.
In light of the recent options history for Starbucks, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Starbucks
- Trading volume stands at 3,071,390, with SBUX's price down by -0.4%, positioned at $78.96.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 34 days.
Expert Opinions on Starbucks
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $98.5.
- An analyst from TD Cowen downgraded its action to Hold with a price target of $85.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Starbucks, targeting a price of $112.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Starbucks options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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