Deep-pocketed investors have adopted a bullish approach towards e.l.f. Beauty ELF, 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 ELF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for e.l.f. Beauty. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 46% bearish. Among these notable options, 9 are puts, totaling $446,858, and 6 are calls, amounting to $356,595.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $230.0 for e.l.f. Beauty over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $80.0 to $230.0 in the last 30 days.
e.l.f. Beauty Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ELF | CALL | TRADE | BULLISH | 01/17/25 | $230.00 | $90.4K | 23 | 33 |
| ELF | PUT | SWEEP | BULLISH | 03/28/24 | $185.00 | $85.5K | 67 | 204 |
| ELF | CALL | SWEEP | BULLISH | 09/20/24 | $230.00 | $77.2K | 13 | 0 |
| ELF | PUT | SWEEP | NEUTRAL | 07/19/24 | $195.00 | $77.1K | 12 | 32 |
| ELF | CALL | SWEEP | BULLISH | 01/17/25 | $220.00 | $73.7K | 80 | 3 |
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.
Present Market Standing of e.l.f. Beauty
- Currently trading with a volume of 779,889, the ELF's price is down by -0.84%, now at $195.2.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 64 days.
What Analysts Are Saying About e.l.f. Beauty
In the last month, 5 experts released ratings on this stock with an average target price of $223.0.
- An analyst from TD Cowen persists with their Market Perform rating on e.l.f. Beauty, maintaining a target price of $220.
- In a cautious move, an analyst from DA Davidson downgraded its rating to Buy, setting a price target of $220.
- An analyst from DA Davidson downgraded its action to Buy with a price target of $220.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $230.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $225.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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