What the Options Market Tells Us About e.l.f. Beauty

Investors with a lot of money to spend have taken a bearish stance on e.l.f. Beauty ELF.

And retail traders should know.

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

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ELF, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for e.l.f. Beauty.

This isn't normal.

The overall sentiment of these big-money traders is split between 10% bullish and 90%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $232,360, and 8 are calls, for a total amount of $289,557.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $140.0 to $240.0 for e.l.f. Beauty over the recent three months.

Volume & Open Interest Trends

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 e.l.f. Beauty'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 e.l.f. Beauty's whale activity within a strike price range from $140.0 to $240.0 in the last 30 days.

e.l.f. Beauty 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About e.l.f. Beauty

e.l.f. Beauty Inc is a cosmetic company based in the United States. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out the sales within the US and internationally, out of which maximum revenue is generated from the US.

In light of the recent options history for e.l.f. Beauty, it's now appropriate to focus on the company itself. We aim to explore its current performance.

e.l.f. Beauty's Current Market Status

• With a volume of 204,617, the price of ELF is up 0.19% at $174.86.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 100 days.

What The Experts Say On e.l.f. Beauty

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $169.4.

• An analyst from Stifel has decided to maintain their Hold rating on e.l.f. Beauty, which currently sits at a price target of $141.
• Maintaining their stance, an analyst from Stifel continues to hold a Hold rating for e.l.f. Beauty, targeting a price of $167.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for e.l.f. Beauty, targeting a price of $184.
• An analyst from Raymond James has decided to maintain their Strong Buy rating on e.l.f. Beauty, which currently sits at a price target of $180.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on e.l.f. Beauty with a target price of $175.

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 e.l.f. Beauty, Benzinga Pro gives you real-time options trades alerts.