Unpacking the Latest Options Trading Trends in Ulta Beauty

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Investors with a lot of money to spend have taken a bullish stance on Ulta Beauty ULTA.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, 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 these investors 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 60% bullish and 40%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $233,540, and 6 are calls, for a total amount of $434,519.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $400.0 to $535.0 for Ulta Beauty during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Ulta Beauty options trades today is 237.22 with a total volume of 233.00.

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 $400.0 to $535.0 over the last 30 days.

Ulta Beauty Option Activity Analysis: Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
ULTA CALL TRADE BULLISH 03/15/24 $480.00 $164.5K 29 0
ULTA PUT SWEEP BULLISH 03/15/24 $535.00 $116.5K 0 21
ULTA CALL SWEEP BULLISH 12/15/23 $480.00 $91.1K 748 117
ULTA CALL TRADE BULLISH 12/15/23 $400.00 $65.6K 407 3
ULTA PUT SWEEP BEARISH 03/15/24 $535.00 $63.8K 0 36

About Ulta Beauty

With 1,355 stores at the end of fiscal 2022 and a partnership with Target, Ulta Beauty is the largest specialized beauty retailer in the U.S. The firm offers makeup (42% of 2022 sales), fragrances, skin care, and hair care products (21% of 2022 sales), and bath and body items. Ulta offers private-label products and merchandise from more than 500 vendors. It also offers salon services, including hair, makeup, skin, and brow services, in all stores. Most Ulta stores are approximately 10,000 square feet and are in suburban strip centers. Ulta was founded in 1990 and is based in Bolingbrook, Illinois.

Where Is Ulta Beauty Standing Right Now?

  • Currently trading with a volume of 233,454, the ULTA's price is up by 2.78%, now at $485.17.
  • RSI readings suggest the stock is currently may be overbought.
  • Anticipated earnings release is in 94 days.

What The Experts Say On Ulta Beauty

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $543.0.

  • Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Ulta Beauty, targeting a price of $575.
  • An analyst from DA Davidson has decided to maintain their Buy rating on Ulta Beauty, which currently sits at a price target of $530.
  • Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $525.
  • An analyst from Telsey Advisory Group has revised its rating downward to Outperform, adjusting the price target to $600.
  • Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Ulta Beauty, targeting a price of $485.

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 Ulta Beauty with Benzinga Pro for real-time alerts.

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