Deep-pocketed investors have adopted a bullish approach towards Starbucks SBUX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SBUX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $248,330, and 7 are calls, amounting to $308,408.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $115.0 for Starbucks over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Starbucks options trades today is 1029.4 with a total volume of 906.00.
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 $80.0 to $115.0 over the last 30 days.
Starbucks Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SBUX | CALL | TRADE | BULLISH | 01/26/24 | $80.00 | $78.2K | 50 | 50 |
| SBUX | PUT | TRADE | BULLISH | 06/21/24 | $105.00 | $74.2K | 2.1K | 64 |
| SBUX | PUT | TRADE | BEARISH | 06/21/24 | $97.50 | $54.8K | 1.2K | 228 |
| SBUX | CALL | TRADE | BULLISH | 06/21/24 | $97.50 | $47.4K | 843 | 259 |
| SBUX | CALL | TRADE | NEUTRAL | 01/17/25 | $110.00 | $47.0K | 2.4K | 28 |
About Starbucks
Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.
Where Is Starbucks Standing Right Now?
- Trading volume stands at 1,831,256, with SBUX's price down by -0.77%, positioned at $94.93.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 36 days.
What The Experts Say On Starbucks
In the last month, 1 experts released ratings on this stock with an average target price of $107.0.
- An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $107.
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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