Starbucks Unusual Options Activity

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 16 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 68% bearish. Among these notable options, 3 are puts, totaling $197,534, and 13 are calls, amounting to $492,463.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $95.0 for Starbucks during the past quarter.

Analyzing Volume & Open Interest

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 $95.0 in the last 30 days.

Starbucks 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Where Is Starbucks Standing Right Now?

• With a volume of 6,173,791, the price of SBUX is down -3.56% at $73.18.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 87 days.

Professional Analyst Ratings for Starbucks

5 market experts have recently issued ratings for this stock, with a consensus target price of $83.0.

• In a cautious move, an analyst from TD Cowen downgraded its rating to Hold, setting a price target of $81.
• An analyst from Evercore ISI Group has revised its rating downward to In-Line, adjusting the price target to $80.
• Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for Starbucks, targeting a price of $80.
• An analyst from TD Cowen persists with their Hold rating on Starbucks, maintaining a target price of $81.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Starbucks, targeting a price of $93.

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.