Spotlight on Starbucks: Analyzing the Surge in Options Activity

High-rolling investors have positioned themselves bearish on Starbucks SBUX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SBUX often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 9 options trades for Starbucks. This is not a typical pattern.

The sentiment among these major traders is split, with 33% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $66,105, and 8 calls, totaling $342,645.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $75.0 and $95.0 for Starbucks, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Starbucks options trades today is 4536.25 with a total volume of 2,412.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Starbucks's big money trades within a strike price range of $75.0 to $95.0 over the last 30 days.

Starbucks Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
SBUX CALL TRADE BULLISH 05/17/24 $3.6 $3.5 $3.6 $85.00 $72.0K 2.1K 189
SBUX PUT SWEEP NEUTRAL 03/21/25 $5.65 $5.55 $5.65 $80.00 $66.1K 10 18
SBUX CALL TRADE BULLISH 06/18/26 $21.35 $18.95 $20.4 $75.00 $61.2K 6 30
SBUX CALL TRADE NEUTRAL 06/21/24 $1.99 $1.95 $1.97 $90.00 $59.1K 17.5K 503
SBUX CALL TRADE BEARISH 06/21/24 $2.15 $2.12 $2.12 $90.00 $42.4K 17.5K 1.2K

About Starbucks

Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.

In light of the recent options history for Starbucks, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Starbucks

  • With a volume of 2,260,705, the price of SBUX is down -0.02% at $85.16.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 14 days.

Professional Analyst Ratings for Starbucks

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $104.0.

  • An analyst from JP Morgan persists with their Overweight rating on Starbucks, maintaining a target price of $100.
  • In a cautious move, an analyst from TD Cowen downgraded its rating to Hold, setting a price target of $100.
  • An analyst from Morgan Stanley persists with their Overweight rating on Starbucks, maintaining a target price of $115.
  • Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Starbucks, targeting a price of $100.
  • An analyst from Wells Fargo persists with their Overweight rating on Starbucks, maintaining a target price of $105.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Starbucks options trades with real-time alerts from Benzinga Pro.

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Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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