Deep-pocketed investors have adopted a bearish 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 21 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 61% bearish. Among these notable options, 9 are puts, totaling $941,477, and 12 are calls, amounting to $533,537.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $115.0 for Starbucks over the recent three months.
Analyzing Volume & Open Interest
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 $60.0 to $115.0 over the preceding 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 | SWEEP | BULLISH | 12/20/24 | $13.7 | $13.6 | $13.6 | $105.00 | $369.9K | 112 | 272 |
| SBUX | PUT | SWEEP | BULLISH | 01/16/26 | $9.8 | $9.65 | $9.65 | $90.00 | $215.2K | 875 | 284 |
| SBUX | PUT | SWEEP | BULLISH | 06/20/25 | $23.4 | $23.25 | $23.25 | $115.00 | $116.2K | 280 | 50 |
| SBUX | CALL | SWEEP | BEARISH | 11/15/24 | $2.75 | $2.66 | $2.66 | $100.00 | $72.8K | 2.3K | 425 |
| SBUX | PUT | SWEEP | BULLISH | 01/16/26 | $9.8 | $9.65 | $9.65 | $90.00 | $58.8K | 875 | 0 |
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.
Current Position of Starbucks
- With a volume of 1,732,111, the price of SBUX is down -0.23% at $92.8.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 71 days.
Professional Analyst Ratings for Starbucks
In the last month, 5 experts released ratings on this stock with an average target price of $97.2.
- An analyst from Wedbush has decided to maintain their Neutral rating on Starbucks, which currently sits at a price target of $80.
- Showing optimism, an analyst from TD Cowen upgrades its rating to Buy with a revised price target of $105.
- An analyst from TD Cowen has revised its rating downward to Buy, adjusting the price target to $105.
- An analyst from Piper Sandler has elevated its stance to Overweight, setting a new price target at $103.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Starbucks, targeting a price of $93.
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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