Behind the Scenes of Starbucks's Latest Options Trends

Investors with a lot of money to spend have taken a bearish stance on Starbucks SBUX.

And retail traders should know.

We noticed this today when the positions 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.

Today, Benzinga's options scanner spotted 11 options trades for Starbucks.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $27,900, and 10, calls, for a total amount of $715,568.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $105.0 for Starbucks during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Starbucks stands at 6912.14, with a total volume reaching 10,159.00. 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 $75.0 to $105.0, throughout the last 30 days.

Starbucks Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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

Present Market Standing of Starbucks

• Trading volume stands at 1,519,270, with SBUX's price down by -0.32%, positioned at $91.92.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 51 days.

What Analysts Are Saying About Starbucks

In the last month, 5 experts released ratings on this stock with an average target price of $108.6.

• Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Starbucks, targeting a price of $110.
• In a positive move, an analyst from Evercore ISI Group has upgraded their rating to Outperform and adjusted the price target to $120.
• In a cautious move, an analyst from TD Cowen downgraded its rating to Buy, setting a price target of $105.
• Reflecting concerns, an analyst from TD Cowen lowers its rating to Buy with a new price target of $105.
• An analyst from Piper Sandler upgraded its action to Overweight with a price target of $103.

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.