Looking At Starbucks's Recent Unusual Options Activity

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 9 extraordinary options activities for Starbucks. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 2 are puts, totaling $65,310, and 7 are calls, amounting to $1,242,083.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $105.0 for Starbucks during the past quarter.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Starbucks options trades today is 2922.57 with a total volume of 3,844.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Starbucks's big money trades within a strike price range of $70.0 to $105.0 over the last 30 days.

Starbucks Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

Where Is Starbucks Standing Right Now?

• With a volume of 1,530,035, the price of SBUX is down -0.33% at $95.0.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 82 days.

What The Experts Say On Starbucks

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $100.8.

• Consistent in their evaluation, an analyst from Wedbush keeps a Neutral rating on Starbucks with a target price of $95.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $102.
• Reflecting concerns, an analyst from Wedbush lowers its rating to Neutral with a new price target of $95.
• An analyst from Barclays persists with their Overweight rating on Starbucks, maintaining a target price of $112.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Starbucks, targeting a price of $100.

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.