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 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $103,590, and 6 are calls, amounting to $246,830.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $175.0 to $210.0 for e.l.f. Beauty during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for e.l.f. Beauty's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across e.l.f. Beauty's significant trades, within a strike price range of $175.0 to $210.0, over the past month.
e.l.f. Beauty Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELF | PUT | SWEEP | BULLISH | 07/19/24 | $3.8 | $3.6 | $3.6 | $182.50 | $77.0K | 115 | 57 |
| ELF | CALL | TRADE | BEARISH | 08/16/24 | $16.3 | $16.0 | $16.0 | $175.00 | $73.6K | 82 | 7 |
| ELF | CALL | TRADE | BULLISH | 07/26/24 | $6.7 | $5.0 | $6.3 | $182.50 | $39.6K | 0 | 3 |
| ELF | CALL | TRADE | BEARISH | 10/18/24 | $25.2 | $23.9 | $23.9 | $175.00 | $35.8K | 17 | 0 |
| ELF | CALL | TRADE | BULLISH | 10/18/24 | $22.4 | $22.1 | $22.4 | $175.00 | $33.6K | 17 | 16 |
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.
Having examined the options trading patterns of e.l.f. Beauty, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of e.l.f. Beauty
- Trading volume stands at 527,115, with ELF's price down by -7.54%, positioned at $174.77.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 22 days.
What Analysts Are Saying About e.l.f. Beauty
4 market experts have recently issued ratings for this stock, with a consensus target price of $237.0.
- 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 $230.
- An analyst from Canaccord Genuity persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $250.
- An analyst from Piper Sandler persists with their Overweight rating on e.l.f. Beauty, maintaining a target price of $258.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on e.l.f. Beauty with a target price of $210.
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 e.l.f. Beauty 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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