Deep-pocketed investors have adopted a bullish approach towards e.l.f. Beauty (NYSE: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 9 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 55% leaning bullish and 44% bearish. Among these notable options, 3 are puts, totaling $134,640, and 6 are calls, amounting to $407,477.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $165.0 to $230.0 for e.l.f. Beauty over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $165.0 to $230.0 in the last 30 days.

e.l.f. Beauty Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About e.l.f. Beauty

Following our analysis of the options activities associated with e.l.f. Beauty, we pivot to a closer look at the company's own performance.

Current Position of e.l.f. Beauty

• Currently trading with a volume of 767,111, the ELF's price is down by -3.53%, now at $185.2.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 50 days.

Professional Analyst Ratings for e.l.f. Beauty

4 market experts have recently issued ratings for this stock, with a consensus target price of $222.5.

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.