Investors with a lot of money to spend have taken a bearish stance on Ulta Beauty ULTA.
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 ULTA, 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 13 uncommon options trades for Ulta Beauty.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 53%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $303,919, and 7 are calls, for a total amount of $353,361.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $280.0 to $415.0 for Ulta Beauty over the recent three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Ulta Beauty's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Ulta Beauty's substantial trades, within a strike price spectrum from $280.0 to $415.0 over the preceding 30 days.
Ulta Beauty 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ULTA | CALL | SWEEP | BEARISH | 10/18/24 | $8.1 | $8.0 | $8.0 | $415.00 | $95.2K | 707 | 172 |
| ULTA | PUT | SWEEP | BEARISH | 10/18/24 | $6.8 | $6.7 | $6.8 | $385.00 | $90.4K | 91 | 164 |
| ULTA | CALL | SWEEP | BEARISH | 09/27/24 | $10.0 | $7.1 | $7.15 | $395.00 | $54.0K | 265 | 185 |
| ULTA | CALL | SWEEP | BEARISH | 09/27/24 | $7.5 | $5.4 | $5.4 | $395.00 | $54.0K | 265 | 101 |
| ULTA | PUT | SWEEP | NEUTRAL | 10/18/24 | $8.1 | $8.1 | $8.1 | $390.00 | $53.4K | 837 | 88 |
About Ulta Beauty
With 1,385 stores at the end of fiscal 2023 and a partnership with Target, Ulta Beauty is the largest specialized beauty retailer in the US. The firm offers makeup (41% of 2023 sales), fragrances, skin care (19% of sales), and hair care products (19% of sales), and bath and body items. Ulta offers private-label products and merchandise from more than 500 vendors. It also offers salon services, including hair, makeup, skin, and brow services, in all stores. Most Ulta stores are approximately 10,000 square feet and are in suburban strip centers. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.
Following our analysis of the options activities associated with Ulta Beauty, we pivot to a closer look at the company's own performance.
Current Position of Ulta Beauty
- Trading volume stands at 607,763, with ULTA's price up by 1.69%, positioned at $400.5.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 66 days.
What The Experts Say On Ulta Beauty
5 market experts have recently issued ratings for this stock, with a consensus target price of $433.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Ulta Beauty, targeting a price of $500. * Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Ulta Beauty, targeting a price of $395. * An analyst from Stifel has decided to maintain their Hold rating on Ulta Beauty, which currently sits at a price target of $385. * An analyst from B of A Securities persists with their Neutral rating on Ulta Beauty, maintaining a target price of $380. * An analyst from UBS persists with their Buy rating on Ulta Beauty, maintaining a target price of $505.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Ulta Beauty with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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