Looking At e.l.f. Beauty's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on e.l.f. Beauty ELF.

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 ELF, 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 9 uncommon options trades for e.l.f. Beauty.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 33%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $123,555, and 6 are calls, for a total amount of $254,320.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $145.0 for e.l.f. Beauty over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for e.l.f. Beauty options trades today is 368.33 with a total volume of 628.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for e.l.f. Beauty's big money trades within a strike price range of $110.0 to $145.0 over the last 30 days.

e.l.f. Beauty Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About e.l.f. Beauty

e.l.f. Beauty Inc is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty-free cosmetics and skin care products. The Company's mission is to make the best of beauty accessible to every eye, lip, face, and skin concern. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out sales within the US and internationally, out of which maximum revenue is generated from the US.

In light of the recent options history for e.l.f. Beauty, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is e.l.f. Beauty Standing Right Now?

• Trading volume stands at 1,036,766, with ELF's price down by -4.61%, positioned at $125.27.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 83 days.

What The Experts Say On e.l.f. Beauty

In the last month, 5 experts released ratings on this stock with an average target price of $179.6.

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. * Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price of $223. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $165. * An analyst from Baird has decided to maintain their Outperform rating on e.l.f. Beauty, which currently sits at a price target of $175. * Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price of $170. * An analyst from B of A Securities persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $165.

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 e.l.f. Beauty with Benzinga Pro for real-time alerts.