Options Traders are Optimistic About Starbucks Shares By End Of October

Options Traders are Optimistic About Starbucks Shares By End Of October

Starbucks Corporation SBUX is ready to onboard its new CEO Laxman Narasimhan.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Starbucks traded more than 3 times its average daily call volume on Monday.

Check out other stocks making moves in the premarket.

There was a buyer of 11,877 of the October weekly 92.5-calls at an average price of $2.35 per contract, Khouw mentioned. Traders bet nearly $3 million that Starbucks shares will hit February’s high by October expiration, he added.

SBUX Price Action: Shares of Starbucks were down 2.83% to $86.49 on Tuesday.

Also Read: Will Tesla Make A Cheaper EV? This Is What Company's Senior Exec Reportedly Said

Posted In: CNBCMichael KhouwOptimize AdvisorsLong IdeasOptionsMarketsMediaTrading Ideas