Investors with a lot of money to spend have taken a bearish stance on Ulta Beauty ULTA.
And retail traders should know.
We noticed this today when the trades 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 ULTA, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 18 uncommon options trades for Ulta Beauty.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 50%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $335,034, and 8 are calls, for a total amount of $304,783.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $450.0 for Ulta Beauty, spanning the last three months.
Volume & Open Interest Development
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 Ulta Beauty'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 Ulta Beauty's whale activity within a strike price range from $200.0 to $450.0 in the last 30 days.
Ulta Beauty Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ULTA | PUT | TRADE | BEARISH | 10/18/24 | $13.1 | $12.8 | $13.1 | $390.00 | $58.9K | 1.1K | 151 |
| ULTA | CALL | SWEEP | BULLISH | 01/17/25 | $57.4 | $54.3 | $56.67 | $350.00 | $56.6K | 172 | 15 |
| ULTA | CALL | SWEEP | NEUTRAL | 10/18/24 | $10.7 | $10.4 | $10.7 | $400.00 | $48.1K | 437 | 63 |
| ULTA | PUT | SWEEP | BEARISH | 10/18/24 | $9.3 | $9.1 | $9.3 | $380.00 | $46.5K | 522 | 66 |
| ULTA | PUT | TRADE | BEARISH | 10/04/24 | $13.6 | $12.2 | $13.1 | $400.00 | $39.3K | 188 | 83 |
About Ulta Beauty
With 1,385 stores at the end of fiscal 2023 and a partnership with Target, Ulta Beauty is the largest specialized beauty retailer in the US. The firm offers makeup (41% of 2023 sales), fragrances, skin care (19% of sales), and hair care products (19% of sales), and bath and body items. Ulta offers private-label products and merchandise from more than 500 vendors. It also offers salon services, including hair, makeup, skin, and brow services, in all stores. Most Ulta stores are approximately 10,000 square feet and are in suburban strip centers. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.
After a thorough review of the options trading surrounding Ulta Beauty, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Ulta Beauty
- With a volume of 1,282,900, the price of ULTA is down -4.03% at $387.71.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 60 days.
Professional Analyst Ratings for Ulta Beauty
3 market experts have recently issued ratings for this stock, with a consensus target price of $381.6666666666667.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from TD Cowen has revised its rating downward to Hold, adjusting the price target to $395. * An analyst from B. Riley Securities has revised its rating downward to Sell, adjusting the price target to $300. * An analyst from Loop Capital persists with their Buy rating on Ulta Beauty, maintaining a target price of $450.
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 Ulta Beauty with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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