Looking At e.l.f. Beauty's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on e.l.f. Beauty ELF.

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 ELF, 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 12 uncommon options trades for e.l.f. Beauty.

This isn't normal.

The overall sentiment of these big-money traders is split between 8% bullish and 75%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $97,093, and 9 are calls, for a total amount of $652,660.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $150.0 for e.l.f. Beauty over the last 3 months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for e.l.f. Beauty'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 e.l.f. Beauty's whale trades within a strike price range from $55.0 to $150.0 in the last 30 days.

e.l.f. Beauty Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

Current Position of e.l.f. Beauty

• With a trading volume of 488,593, the price of ELF is down by -1.3%, reaching $64.25.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 56 days from now.

What Analysts Are Saying About e.l.f. Beauty

2 market experts have recently issued ratings for this stock, with a consensus target price of $75.0.

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. * An analyst from DA Davidson persists with their Neutral rating on e.l.f. Beauty, maintaining a target price of $75. * An analyst from DA Davidson has decided to maintain their Neutral rating on e.l.f. Beauty, which currently sits at a price target of $75.

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 e.l.f. Beauty with Benzinga Pro for real-time alerts.