Deep-pocketed investors have adopted a bearish 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 17 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 29% leaning bullish and 70% bearish. Among these notable options, 7 are puts, totaling $328,945, and 10 are calls, amounting to $356,924.
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 $90.0 to $105.0 for Starbucks over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Starbucks options trades today is 3579.43 with a total volume of 5,008.00.
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 $90.0 to $105.0 over the last 30 days.
Starbucks Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | TRADE | BEARISH | 06/21/24 | $105.00 | $79.4K | 2.3K | 190 |
| SBUX | PUT | TRADE | BEARISH | 06/21/24 | $105.00 | $67.5K | 2.3K | 59 |
| SBUX | PUT | TRADE | BEARISH | 06/21/24 | $105.00 | $66.7K | 2.3K | 251 |
| SBUX | CALL | TRADE | NEUTRAL | 02/16/24 | $90.00 | $64.0K | 2.4K | 6 |
| SBUX | CALL | TRADE | BULLISH | 06/21/24 | $105.00 | $39.2K | 3.4K | 425 |
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.
In light of the recent options history for Starbucks, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Starbucks Standing Right Now?
- Trading volume stands at 3,211,121, with SBUX's price down by -1.71%, positioned at $94.37.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 30 days.
Professional Analyst Ratings for Starbucks
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $107.0.
- An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $107.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Starbucks options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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