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Dan Nathan Sees Unusual Options Activity In Starbucks

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Dan Nathan spoke on CNBC's "Options Action" about an unusually high options activity in Starbucks Corporation (NASDAQ: SBUX). He said the options volume on Monday was 1.5 times its average daily options volume.

When the stock was trading at $76.25, Nathan noticed a purchase of 5,000 contracts of the May 75/77.5 strangles for $2.80. He explained that this was a volatility trade and the trader is looking for a move below $72.30 or above $80.30 by the May expiration. The company is going to report earnings next week.

Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media

 

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