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 47% leaning bullish and 52% bearish. Among these notable options, 7 are puts, totaling $357,564, and 10 are calls, amounting to $3,697,923.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $110.0 for Starbucks over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Starbucks stands at 3223.27, with a total volume reaching 6,806.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Starbucks, situated within the strike price corridor from $80.0 to $110.0, throughout the last 30 days.
Starbucks Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SBUX | CALL | TRADE | BULLISH | 01/16/26 | $90.00 | $2.9M | 7.5K | 2.0K |
| SBUX | CALL | TRADE | BEARISH | 01/17/25 | $110.00 | $436.0K | 12.5K | 2.0K |
| SBUX | PUT | SWEEP | BEARISH | 06/21/24 | $92.50 | $121.5K | 3.0K | 236 |
| SBUX | CALL | TRADE | BULLISH | 05/17/24 | $90.00 | $53.1K | 2.4K | 592 |
| SBUX | PUT | SWEEP | BEARISH | 09/20/24 | $95.00 | $45.5K | 2.7K | 59 |
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?
- With a volume of 3,543,625, the price of SBUX is up 0.15% at $91.8.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 39 days.
What The Experts Say On Starbucks
3 market experts have recently issued ratings for this stock, with a consensus target price of $101.33333333333333.
- An analyst from TD Cowen downgraded its action to Market Perform with a price target of $102.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Starbucks with a target price of $100.
- Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Starbucks, targeting a price of $102.
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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