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 25 uncommon options trades for Starbucks.
This isn't normal.
The overall sentiment of these big-money traders is split between 48% bullish and 32%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $588,274, and 19 are calls, for a total amount of $3,022,377.
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 $80.0 to $115.0 for Starbucks over the last 3 months.
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 $80.0 to $115.0 in the last 30 days.
Starbucks 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | CALL | TRADE | NEUTRAL | 11/15/24 | $3.8 | $3.7 | $3.75 | $100.00 | $1.1M | 2.9K | 2.9K |
| SBUX | CALL | SWEEP | BULLISH | 12/20/24 | $18.25 | $18.15 | $18.25 | $80.00 | $675.2K | 5.7K | 370 |
| SBUX | PUT | SWEEP | BULLISH | 09/20/24 | $3.85 | $3.75 | $3.75 | $100.00 | $387.1K | 583 | 1.0K |
| SBUX | CALL | SWEEP | BEARISH | 12/20/24 | $18.75 | $18.2 | $18.2 | $80.00 | $274.8K | 5.7K | 601 |
| SBUX | CALL | SWEEP | BULLISH | 09/20/24 | $4.1 | $4.0 | $4.1 | $95.00 | $205.0K | 18.8K | 1.1K |
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.
Having examined the options trading patterns of Starbucks, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Starbucks
- With a volume of 8,418,044, the price of SBUX is up 2.24% at $97.77.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 65 days.
What Analysts Are Saying About Starbucks
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $111.2.
- In a positive move, an analyst from Evercore ISI Group has upgraded their rating to Outperform and adjusted the price target to $120.
- An analyst from TD Cowen has elevated its stance to Buy, setting a new price target at $105.
- In a positive move, an analyst from Piper Sandler has upgraded their rating to Overweight and adjusted the price target to $103.
- An analyst from Stifel upgraded its action to Buy with a price target of $110.
- An analyst from Deutsche Bank upgraded its action to Buy with a price target of $118.
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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