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 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $341,895 and 7, calls, for a total amount of $377,880.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $140.0 for Starbucks during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Starbucks options trades today is 2242.12 with a total volume of 1,129.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Starbucks's big money trades within a strike price range of $75.0 to $140.0 over the last 30 days.
Starbucks 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | TRADE | BULLISH | 06/21/24 | $100.00 | $223.5K | 1.7K | 435 |
| SBUX | CALL | SWEEP | BULLISH | 12/15/23 | $80.00 | $111.8K | 130 | 24 |
| SBUX | PUT | SWEEP | BEARISH | 02/16/24 | $105.00 | $81.8K | 615 | 0 |
| SBUX | CALL | SWEEP | BEARISH | 01/17/25 | $75.00 | $79.2K | 261 | 31 |
| SBUX | CALL | SWEEP | BULLISH | 12/15/23 | $80.00 | $57.0K | 130 | 24 |
Where Is Starbucks Standing Right Now?
- With a volume of 1,612,857, the price of SBUX is up 0.16% at $104.2.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 86 days.
What Analysts Are Saying About Starbucks:
- Consistent in their evaluation, UBS keeps a Neutral rating on Starbucks with a target price of $100.
- Wedbush persists with their Neutral rating on Starbucks, maintaining a target price of $106.
- Morgan Stanley persists with their Equal-Weight rating on Starbucks, maintaining a target price of $102.
- Deutsche Bank downgraded its action to Buy with a price target of $118.
- Barclays persists with their Overweight rating on Starbucks, maintaining a target price of $116.
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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