A whale with a lot of money to spend has taken a noticeably bearish stance on Starbucks.
Looking at options history for Starbucks SBUX we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $1,371,331 and 5, calls, for a total amount of $351,537.
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 $45.0 to $140.0 for Starbucks over the last 3 months.
Volume & Open Interest Development
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 $45.0 to $140.0 in the last 30 days.
Starbucks Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | SWEEP | BULLISH | 09/15/23 | $105.00 | $390.6K | 2.2K | 0 |
| SBUX | PUT | SWEEP | BEARISH | 09/15/23 | $105.00 | $270.3K | 2.2K | 1.8K |
| SBUX | PUT | SWEEP | BEARISH | 09/15/23 | $105.00 | $268.0K | 2.2K | 2.1K |
| SBUX | PUT | SWEEP | BEARISH | 09/15/23 | $105.00 | $259.7K | 2.2K | 3.2K |
| SBUX | PUT | SWEEP | BULLISH | 10/20/23 | $105.00 | $146.9K | 579 | 1 |
Where Is Starbucks Standing Right Now?
- With a volume of 3,092,927, the price of SBUX is down -1.37% at $105.62.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 74 days.
What The Experts Say On Starbucks:
- Wedbush downgraded its action to Neutral with a price target of $110
- Credit Suisse has decided to maintain their Outperform rating on Starbucks, which currently sits at a price target of $128.
- Baird has decided to maintain their Neutral rating on Starbucks, which currently sits at a price target of $110.
- Barclays has decided to maintain their Overweight rating on Starbucks, which currently sits at a price target of $127.
- TD Cowen downgraded its action to Outperform with a price target of $120
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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