This Is What Whales Are Betting On Starbucks

Someone with a lot of money to spend has taken a bearish stance on Starbucks SBUX.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SBUX, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Starbucks.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $526,099, and 6 are calls, for a total amount of $251,876.

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 $75.0 to $105.0 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 $75.0 to $105.0 in the last 30 days.

Starbucks Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SBUX PUT SWEEP NEUTRAL 01/17/25 $105.00 $175.1K 530 219
SBUX PUT SWEEP NEUTRAL 01/19/24 $105.00 $154.1K 3.7K 219
SBUX CALL TRADE BEARISH 10/13/23 $90.00 $100.0K 393 187
SBUX PUT SWEEP BULLISH 04/19/24 $75.00 $38.4K 1.4K 225
SBUX PUT SWEEP BULLISH 10/06/23 $94.00 $37.3K 1.7K 155

Where Is Starbucks Standing Right Now?

  • With a volume of 2,999,175, the price of SBUX is up 1.78% at $91.08.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 29 days.

What The Experts Say On Starbucks:

  • TD Cowen downgraded its action to Market Perform with a price target of $107
  • TD Cowen downgraded its action to Market Perform with a price target of $107
  • TD Cowen downgraded its action to Market Perform with a price target of $107
  • Citigroup has decided to maintain their Neutral rating on Starbucks, which currently sits at a price target of $104.

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.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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