High-rolling investors have positioned themselves bullish on Shake Shack SHAK, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SHAK often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Shake Shack. This is not a typical pattern.
The sentiment among these major traders is split, with 77% bullish and 0% bearish. Among all the options we identified, there was one put, amounting to $380,000, and 8 calls, totaling $721,225.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $115.0 for Shake Shack over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Shake Shack'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 Shake Shack's whale activity within a strike price range from $80.0 to $115.0 in the last 30 days.
Shake Shack Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHAK | PUT | TRADE | BULLISH | 12/20/24 | $8.0 | $7.6 | $7.6 | $105.00 | $380.0K | 835 | 1 |
| SHAK | CALL | SWEEP | BULLISH | 09/20/24 | $8.6 | $7.7 | $8.65 | $105.00 | $269.8K | 431 | 326 |
| SHAK | CALL | TRADE | NEUTRAL | 09/20/24 | $5.0 | $4.8 | $4.9 | $110.00 | $122.0K | 408 | 295 |
| SHAK | CALL | TRADE | BULLISH | 09/20/24 | $9.8 | $6.4 | $8.6 | $100.00 | $86.0K | 443 | 100 |
| SHAK | CALL | TRADE | BULLISH | 08/16/24 | $30.2 | $28.3 | $30.2 | $80.00 | $75.5K | 56 | 25 |
About Shake Shack
Shake Shack Inc is a roadside burger stand. It is serving a classic American menu of premium burgers, hot dogs, crispy chicken, frozen custard, crinkle-cut fries, shakes, beer, wine and more. The company's burgers are made with a whole-muscle blend of all-natural, hormone and antibiotic-free Angus beef, ground fresh daily, cooked to order and served on a non-genetically modified organism (GMO) potato bun. Its menu focuses on food and beverages, crafted from a range of classic American foods. The company serves draft Root Beer, seasonal freshly-squeezed lemonade, organic fresh brewed iced tea, cold brew coffee, organic apple juice, and Shack20 bottled water.
Having examined the options trading patterns of Shake Shack, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Shake Shack Standing Right Now?
- Currently trading with a volume of 1,383,180, the SHAK's price is up by 7.27%, now at $112.0.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 77 days.
Professional Analyst Ratings for Shake Shack
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $109.0.
- An analyst from Wedbush persists with their Neutral rating on Shake Shack, maintaining a target price of $90.
- In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $90.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Shake Shack with a target price of $125.
- An analyst from Deutsche Bank persists with their Hold rating on Shake Shack, maintaining a target price of $115.
- An analyst from TD Cowen has revised its rating downward to Buy, adjusting the price target to $125.
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 Shake Shack with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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