Deep-pocketed investors have adopted a bearish 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 12 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 58% bearish. Among these notable options, 2 are puts, totaling $511,600, and 10 are calls, amounting to $1,724,110.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $77.0 for Starbucks over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $65.0 to $77.0 in the last 30 days.
Starbucks Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | CALL | SWEEP | BEARISH | 08/16/24 | $3.8 | $3.7 | $3.75 | $75.00 | $669.5K | 5.2K | 139 |
| SBUX | PUT | TRADE | BEARISH | 01/17/25 | $2.49 | $1.27 | $2.39 | $65.00 | $478.0K | 5.0K | 1 |
| SBUX | CALL | SWEEP | BEARISH | 08/16/24 | $3.8 | $3.7 | $3.7 | $75.00 | $425.2K | 5.2K | 2.6K |
| SBUX | CALL | SWEEP | BEARISH | 08/16/24 | $3.8 | $3.75 | $3.75 | $75.00 | $268.5K | 5.2K | 139 |
| SBUX | CALL | TRADE | NEUTRAL | 08/02/24 | $3.35 | $3.25 | $3.3 | $75.00 | $78.2K | 623 | 950 |
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.
Present Market Standing of Starbucks
- Currently trading with a volume of 2,111,227, the SBUX's price is down by -0.56%, now at $74.68.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 12 days.
Professional Analyst Ratings for Starbucks
5 market experts have recently issued ratings for this stock, with a consensus target price of $85.0.
- An analyst from TD Cowen persists with their Hold rating on Starbucks, maintaining a target price of $81.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Starbucks, which currently sits at a price target of $98.
- An analyst from Evercore ISI Group downgraded its action to In-Line with a price target of $80.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Starbucks, targeting a price of $85.
- In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $81.
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 Starbucks, 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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