Market Whales and Their Recent Bets on ULTA Options

Deep-pocketed investors have adopted a bullish approach towards Ulta Beauty ULTA, 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 ULTA usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Ulta Beauty. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $145,410, and 5 are calls, amounting to $368,275.

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What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $480.0 and $640.0 for Ulta Beauty, spanning the last three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Ulta Beauty options trades today is 41.0 with a total volume of 125.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Ulta Beauty's big money trades within a strike price range of $480.0 to $640.0 over the last 30 days.

Ulta Beauty Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About Ulta Beauty

With 1,355 stores at the end of fiscal 2022 and a partnership with Target, Ulta Beauty is the largest specialized beauty retailer in the U.S. The firm offers makeup (42% of 2022 sales), fragrances, skin care, and hair care products (21% of 2022 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.

Where Is Ulta Beauty Standing Right Now?

• Currently trading with a volume of 590,800, the ULTA's price is up by 0.24%, now at $524.83.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 62 days.

Expert Opinions on Ulta Beauty

In the last month, 5 experts released ratings on this stock with an average target price of $583.4.

• An analyst from Jefferies has decided to maintain their Buy rating on Ulta Beauty, which currently sits at a price target of $610.
• Consistent in their evaluation, an analyst from Loop Capital keeps a Hold rating on Ulta Beauty with a target price of $540.
• An analyst from Barclays persists with their Overweight rating on Ulta Beauty, maintaining a target price of $612.
• An analyst from Raymond James persists with their Strong Buy rating on Ulta Beauty, maintaining a target price of $630.
• An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Ulta Beauty, which currently sits at a price target of $525.

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 Ulta Beauty, Benzinga Pro gives you real-time options trades alerts.