Starbucks Unusual Options Activity

A whale with a lot of money to spend has taken a noticeably bearish stance on Starbucks.

Looking at options history for Starbucks SBUX we detected 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $1,180,196 and 7, calls, for a total amount of $754,210.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $92.0 to $130.0 for Starbucks over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Starbucks'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 Starbucks's whale trades within a strike price range from $92.0 to $130.0 in the last 30 days.

Starbucks Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SBUX CALL TRADE BULLISH 03/17/23 $120.00 $475.0K 4.5K 30
SBUX PUT TRADE BULLISH 06/16/23 $100.00 $390.0K 4.3K 1
SBUX PUT SWEEP BEARISH 05/19/23 $110.00 $246.3K 672 27
SBUX PUT SWEEP BULLISH 03/17/23 $100.00 $169.3K 9.5K 5.1K
SBUX PUT SWEEP BEARISH 03/17/23 $100.00 $75.5K 9.5K 336

Where Is Starbucks Standing Right Now?

  • With a volume of 1,349,718, the price of SBUX is down -0.52% at $108.57.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 1 days.

What The Experts Say On Starbucks:

  • BTIG has decided to maintain their Buy rating on Starbucks, which currently sits at a price target of $120.
  • Cowen & Co. has decided to maintain their Outperform rating on Starbucks, which currently sits at a price target of $112.
  • Wells Fargo downgraded its action to Overweight with a price target of $120
  • JP Morgan has decided to maintain their Overweight rating on Starbucks, which currently sits at a price target of $114.
  • Barclays has decided to maintain their Overweight rating on Starbucks, which currently sits at a price target of $121.

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

Market News and Data brought to you by Benzinga APIs
Date of Trade
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Strike Price
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Sentiment
Posted In: OptionsMarketsBZI-UOA
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