Starbucks Corporation SBUX is scheduled to report its second-quarter results on Tuesday morning.
On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Starbucks traded more than 1.7 times its average daily put volume on Monday. The options market is implying a move of around 5.9% before the company reports earnings, which is more than the 2.5% average over the past eight quarters, he added.
Check out other stocks making moves in the premarket.
There were buyers of 9,192 of the August weekly 80-puts at an average price of $1.32 per contract, Khouw mentioned. Traders expect shares of Starbucks to decline after the earnings report, he added.
SBUX Price Action: Shares of Starbucks gained 0.15% to settle at $84.91 on Monday.
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