Deep-pocketed investors have adopted a bullish approach towards e.l.f. Beauty ELF, 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 ELF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for e.l.f. Beauty. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 52% leaning bullish and 47% bearish. Among these notable options, 4 are puts, totaling $426,685, and 15 are calls, amounting to $736,738.
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 $155.0 to $290.0 for e.l.f. Beauty during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for e.l.f. 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 e.l.f. Beauty's whale trades within a strike price range from $155.0 to $290.0 in the last 30 days.
e.l.f. Beauty 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ELF | PUT | SWEEP | BULLISH | 03/01/24 | $215.00 | $162.5K | 7 | 256 |
| ELF | CALL | TRADE | BULLISH | 09/20/24 | $290.00 | $134.0K | 7 | 101 |
| ELF | PUT | TRADE | BEARISH | 11/15/24 | $240.00 | $103.9K | 20 | 20 |
| ELF | PUT | TRADE | NEUTRAL | 06/21/24 | $230.00 | $90.9K | 96 | 27 |
| ELF | PUT | SWEEP | BEARISH | 05/17/24 | $200.00 | $69.2K | 125 | 50 |
About e.l.f. Beauty
e.l.f. Beauty Inc is a cosmetic company based in the United States. 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 the 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.
Current Position of e.l.f. Beauty
- With a trading volume of 438,998, the price of ELF is up by 0.94%, reaching $210.5.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 82 days from now.
Professional Analyst Ratings for e.l.f. Beauty
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $199.2.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $200.
- Reflecting concerns, an analyst from DA Davidson lowers its rating to Buy with a new price target of $220.
- An analyst from Stifel has decided to maintain their Hold rating on e.l.f. Beauty, which currently sits at a price target of $167.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on e.l.f. Beauty, which currently sits at a price target of $184.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $225.
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 e.l.f. Beauty, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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