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 10 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 6 are puts, totaling $348,074, and 4 are calls, amounting to $191,455.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $105.0 for Starbucks over the recent three months.
Volume & Open Interest Development
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 $90.0 to $105.0 over the preceding 30 days.
Starbucks 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | PUT | SWEEP | BEARISH | 01/17/25 | $7.85 | $7.8 | $7.85 | $97.50 | $119.3K | 836 | 101 |
| SBUX | PUT | SWEEP | BEARISH | 01/17/25 | $6.35 | $6.3 | $6.35 | $95.00 | $85.7K | 10.9K | 233 |
| SBUX | CALL | SWEEP | BEARISH | 11/15/24 | $7.9 | $7.8 | $7.8 | $90.00 | $83.4K | 3.5K | 0 |
| SBUX | CALL | SWEEP | BEARISH | 01/17/25 | $2.81 | $2.75 | $2.75 | $105.00 | $44.5K | 8.3K | 163 |
| SBUX | PUT | SWEEP | BEARISH | 08/30/24 | $1.14 | $1.09 | $1.09 | $94.00 | $44.2K | 390 | 991 |
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.
Present Market Standing of Starbucks
- With a volume of 1,665,514, the price of SBUX is up 1.64% at $93.94.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 69 days.
Professional Analyst Ratings for Starbucks
In the last month, 5 experts released ratings on this stock with an average target price of $94.6.
- In a positive move, an analyst from TD Cowen has upgraded their rating to Buy and adjusted the price target to $105.
- An analyst from Baird upgraded its action to Outperform with a price target of $110.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Starbucks, targeting a price of $93.
- An analyst from DZ Bank has revised its rating downward to Sell, adjusting the price target to $85.
- In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $80.
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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