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 9 uncommon options trades for e.l.f. Beauty.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 44%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $115,900, and 6 are calls, for a total amount of $688,846.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $230.0 for e.l.f. Beauty, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of e.l.f. Beauty stands at 121.12, with a total volume reaching 1,286.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in e.l.f. Beauty, situated within the strike price corridor from $80.0 to $230.0, throughout the last 30 days.
e.l.f. Beauty 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELF | CALL | TRADE | BEARISH | 01/16/26 | $104.5 | $103.1 | $103.6 | $80.00 | $321.1K | 55 | 35 |
| ELF | CALL | SWEEP | BEARISH | 05/03/24 | $4.1 | $3.8 | $4.0 | $167.50 | $200.0K | 24 | 511 |
| ELF | CALL | TRADE | NEUTRAL | 01/16/26 | $103.9 | $101.0 | $102.19 | $80.00 | $61.3K | 55 | 43 |
| ELF | CALL | SWEEP | BULLISH | 05/03/24 | $3.4 | $3.3 | $3.3 | $175.00 | $47.7K | 165 | 1 |
| ELF | PUT | TRADE | BEARISH | 05/03/24 | $2.7 | $2.6 | $2.7 | $160.00 | $40.5K | 353 | 339 |
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.
After a thorough review of the options trading surrounding e.l.f. Beauty, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of e.l.f. Beauty
- With a volume of 1,028,586, the price of ELF is down -5.25% at $162.84.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 22 days.
Professional Analyst Ratings for e.l.f. Beauty
5 market experts have recently issued ratings for this stock, with a consensus target price of $216.6.
- Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price of $220.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $228.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $225.
- Showing optimism, an analyst from TD Cowen upgrades its rating to Buy with a revised price target of $190.
- An analyst from DA Davidson has decided to maintain their Buy rating on e.l.f. Beauty, which currently sits at a price target of $220.
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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