Investors with a lot of money to spend have taken a bearish stance on Ulta Beauty ULTA.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with ULTA, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 16 options trades for Ulta Beauty.
This isn't normal.
The overall sentiment of these big-money traders is split between 6% bullish and 93%, bearish.
Out of all of the options we uncovered, 15 are puts, for a total amount of $482,667, and there was 1 call, for a total amount of $26,000.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $500.0 to $565.0 for Ulta Beauty over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Ulta Beauty options trades today is 198.6 with a total volume of 3,507.00.
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 $500.0 to $565.0 over the last 30 days.
Ulta Beauty Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ULTA | PUT | SWEEP | NEUTRAL | 04/12/24 | $505.00 | $44.7K | 127 | 141 |
| ULTA | PUT | SWEEP | NEUTRAL | 04/12/24 | $505.00 | $43.7K | 127 | 70 |
| ULTA | PUT | SWEEP | NEUTRAL | 04/12/24 | $505.00 | $37.5K | 127 | 413 |
| ULTA | PUT | SWEEP | NEUTRAL | 04/12/24 | $505.00 | $36.2K | 127 | 261 |
| ULTA | PUT | SWEEP | NEUTRAL | 04/12/24 | $500.00 | $32.5K | 38 | 70 |
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.
Where Is Ulta Beauty Standing Right Now?
- Currently trading with a volume of 488,135, the ULTA's price is up by 1.15%, now at $511.38.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 58 days.
Professional Analyst Ratings for Ulta Beauty
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $624.0.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Ulta Beauty, targeting a price of $690.
- An analyst from Loop Capital persists with their Hold rating on Ulta Beauty, maintaining a target price of $540.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Ulta Beauty with a target price of $625.
- An analyst from Telsey Advisory Group has revised its rating downward to Outperform, adjusting the price target to $600.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Ulta Beauty with a target price of $665.
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 Ulta 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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