Investors with a lot of money to spend have taken a bullish 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 32 uncommon options trades for Starbucks.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 17 are puts, for a total amount of $1,919,523, and 15 are calls, for a total amount of $1,480,641.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $100.0 for Starbucks 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 Starbucks'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 Starbucks's whale trades within a strike price range from $40.0 to $100.0 in the last 30 days.
Starbucks Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | TRADE | BULLISH | 09/20/24 | $2.75 | $2.71 | $2.71 | $70.00 | $813.0K | 13.2K | 187 |
| SBUX | CALL | TRADE | BULLISH | 09/20/24 | $3.45 | $3.4 | $3.45 | $75.00 | $690.0K | 3.6K | 393 |
| SBUX | PUT | TRADE | BULLISH | 12/18/26 | $8.5 | $5.6 | $5.9 | $60.00 | $236.0K | 1.1K | 2 |
| SBUX | PUT | SWEEP | BULLISH | 03/21/25 | $7.9 | $7.75 | $7.75 | $75.00 | $139.5K | 2.0K | 7 |
| SBUX | CALL | TRADE | BEARISH | 12/18/26 | $22.5 | $21.3 | $21.3 | $60.00 | $134.1K | 29 | 1 |
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.
Having examined the options trading patterns of Starbucks, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Starbucks's Current Market Status
- Currently trading with a volume of 12,285,192, the SBUX's price is up by 1.09%, now at $73.3.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 19 days.
Professional Analyst Ratings for Starbucks
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $85.33333333333333.
- An analyst from Wedbush downgraded its action to Neutral with a price target of $81.
- An analyst from JP Morgan persists with their Overweight rating on Starbucks, maintaining a target price of $90.
- Reflecting concerns, an analyst from TD Cowen lowers its rating to Hold with a new price target of $85.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Starbucks with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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