Investors with a lot of money to spend have taken a bearish 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 16 uncommon options trades for e.l.f. Beauty.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $79,750, and 14 are calls, for a total amount of $675,298.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $290.0 for e.l.f. Beauty over the last 3 months.
Volume & Open Interest Trends
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 $100.0 to $290.0 in the last 30 days.
e.l.f. Beauty Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ELF | CALL | TRADE | BULLISH | 01/16/26 | $180.00 | $93.4K | 31 | 2 |
| ELF | CALL | SWEEP | BEARISH | 03/22/24 | $220.00 | $74.7K | 183 | 152 |
| ELF | CALL | TRADE | BEARISH | 06/21/24 | $180.00 | $72.8K | 49 | 16 |
| ELF | CALL | SWEEP | BEARISH | 05/17/24 | $170.00 | $65.5K | 284 | 16 |
| ELF | CALL | SWEEP | BULLISH | 03/15/24 | $180.00 | $64.5K | 572 | 15 |
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.
e.l.f. Beauty's Current Market Status
- With a trading volume of 647,808, the price of ELF is down by -4.15%, reaching $208.38.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 79 days from now.
What Analysts Are Saying About e.l.f. Beauty
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $206.4.
- Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $220.
- In a cautious move, an analyst from DA Davidson downgraded its rating to Buy, setting a price target of $220.
- An analyst from Piper Sandler persists with their Overweight rating on e.l.f. Beauty, maintaining a target price of $225.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $200.
- Consistent in their evaluation, an analyst from Stifel keeps a Hold rating on e.l.f. Beauty with a target price of $167.
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.
© 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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