Deep-pocketed investors have adopted a bullish 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 12 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 75% leaning bullish and 8% bearish. Among these notable options, 5 are puts, totaling $280,860, and 7 are calls, amounting to $226,810.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $85.0 for Starbucks over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Starbucks stands at 2297.75, with a total volume reaching 1,584.00. 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 $50.0 to $85.0, throughout the last 30 days.
Starbucks Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | TRADE | NEUTRAL | 01/16/26 | $3.5 | $3.4 | $3.45 | $60.00 | $138.0K | 1.1K | 418 |
| SBUX | CALL | TRADE | NEUTRAL | 01/17/25 | $28.75 | $25.6 | $26.95 | $50.00 | $53.9K | 130 | 25 |
| SBUX | PUT | SWEEP | BULLISH | 10/18/24 | $3.5 | $3.45 | $3.45 | $75.00 | $44.5K | 6.7K | 79 |
| SBUX | PUT | SWEEP | BULLISH | 08/16/24 | $4.25 | $4.15 | $4.15 | $78.00 | $40.2K | 218 | 161 |
| SBUX | CALL | SWEEP | BULLISH | 01/17/25 | $18.35 | $18.15 | $18.25 | $60.00 | $32.8K | 491 | 20 |
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.
Starbucks's Current Market Status
- Currently trading with a volume of 3,737,241, the SBUX's price is down by -0.14%, now at $76.44.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 7 days.
Expert Opinions on Starbucks
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $83.2.
- In a cautious move, an analyst from Evercore ISI Group downgraded its rating to In-Line, setting a price target of $80.
- An analyst from JP Morgan persists with their Overweight rating on Starbucks, maintaining a target price of $90.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Starbucks, targeting a price of $81.
- An analyst from Deutsche Bank has decided to maintain their Hold rating on Starbucks, which currently sits at a price target of $85.
- An analyst from Citigroup persists with their Neutral rating on Starbucks, maintaining a target price of $80.
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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