Ulta Beauty Unusual Options Activity For March 27

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 10 uncommon options trades for Ulta Beauty.

This isn't normal.

The overall sentiment of these big-money traders is split between 10% bullish and 80%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $290,118, and 3 are calls, for a total amount of $265,510.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $240.0 and $400.0 for Ulta Beauty, spanning the last 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 $240.0 to $400.0 over the preceding 30 days.

Ulta Beauty 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Ulta Beauty

With more than 1,400 freestanding stores 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 more than 600 individual brands. 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. The firm intends to open franchises in Mexico in 2025. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.

Present Market Standing of Ulta Beauty

• Trading volume stands at 437,585, with ULTA's price down by -1.4%, positioned at $366.7.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 63 days.

Expert Opinions on Ulta Beauty

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $412.8.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for Ulta Beauty, targeting a price of $415. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Ulta Beauty with a target price of $365. * An analyst from Telsey Advisory Group persists with their Outperform rating on Ulta Beauty, maintaining a target price of $460. * An analyst from Piper Sandler has decided to maintain their Neutral rating on Ulta Beauty, which currently sits at a price target of $364. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Ulta Beauty, which currently sits at a price target of $460.

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.