Investors with a lot of money to spend have taken a bearish stance on Starbucks SBUX.
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 SBUX, 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 21 uncommon options trades for Starbucks.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 52%, bearish.
Out of all of the special options we uncovered, 12 are puts, for a total amount of $1,180,125, and 9 are calls, for a total amount of $444,798.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $100.0 for Starbucks during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Starbucks's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Starbucks's substantial trades, within a strike price spectrum from $70.0 to $100.0 over the preceding 30 days.
Starbucks 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | SWEEP | BEARISH | 10/18/24 | $10.3 | $10.2 | $10.3 | $95.00 | $300.7K | 87 | 8 |
| SBUX | PUT | TRADE | BEARISH | 01/17/25 | $2.86 | $2.79 | $2.86 | $75.00 | $200.2K | 4.1K | 3 |
| SBUX | PUT | SWEEP | NEUTRAL | 01/16/26 | $4.4 | $4.35 | $4.4 | $70.00 | $132.4K | 1.2K | 301 |
| SBUX | CALL | SWEEP | BEARISH | 06/20/25 | $9.5 | $9.25 | $9.3 | $90.00 | $129.2K | 99 | 141 |
| SBUX | PUT | TRADE | BULLISH | 01/16/26 | $5.85 | $5.65 | $5.66 | $75.00 | $113.2K | 771 | 205 |
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.
After a thorough review of the options trading surrounding Starbucks, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Starbucks's Current Market Status
- With a volume of 6,144,509, the price of SBUX is down -0.07% at $87.13.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 21 days.
What The Experts Say On Starbucks
5 market experts have recently issued ratings for this stock, with a consensus target price of $101.8.
- An analyst from Citigroup persists with their Neutral rating on Starbucks, maintaining a target price of $102.
- An analyst from Wells Fargo persists with their Overweight rating on Starbucks, maintaining a target price of $105.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Starbucks, targeting a price of $100.
- In a cautious move, an analyst from TD Cowen downgraded its rating to Market Perform, setting a price target of $102.
- An analyst from TD Cowen persists with their Hold rating on Starbucks, maintaining a target price of $100.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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