Check Out What Whales Are Doing With ULTA

Someone with a lot of money to spend has taken a bearish stance on Ulta Beauty ULTA.

And retail traders should know.

We noticed this today when the big position 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Ulta Beauty.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $187,974, and 5 are calls, for a total amount of $179,820.

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 $330.0 to $485.0 for Ulta Beauty over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Ulta Beauty options trades today is 1049.22 with a total volume of 346.00.

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 $330.0 to $485.0 over the last 30 days.

Ulta Beauty Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Ulta Beauty Standing Right Now?

• With a volume of 590,717, the price of ULTA is up 0.28% at $413.37.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 85 days.

What The Experts Say On Ulta Beauty:

• Baird has decided to maintain their Outperform rating on Ulta Beauty, which currently sits at a price target of $560.
• Telsey Advisory Group downgraded its action to Outperform with a price target of $600
• JP Morgan has decided to maintain their Overweight rating on Ulta Beauty, which currently sits at a price target of $545.
• Loop Capital has decided to maintain their Hold rating on Ulta Beauty, which currently sits at a price target of $490.
• Raymond James has decided to maintain their Strong Buy rating on Ulta Beauty, which currently sits at a price target of $600.

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