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A whale with a lot of money to spend has taken a noticeably bullish stance on Starbucks.
Looking at options history for Starbucks SBUX we detected 21 strange trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $606,496 and 17, calls, for a total amount of $7,385,781.
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 $74.0 to $92.5 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 $74.0 to $92.5 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 | SWEEP | BEARISH | 08/19/22 | $82.50 | $3.0M | 8.3K | 8.2K |
| SBUX | CALL | TRADE | BULLISH | 09/16/22 | $87.50 | $3.0M | 534 | 11.5K |
| SBUX | PUT | SWEEP | BEARISH | 09/16/22 | $85.00 | $480.0K | 1.7K | 1.0K |
| SBUX | CALL | SWEEP | BULLISH | 09/16/22 | $82.50 | $454.5K | 1.9K | 995 |
| SBUX | CALL | SWEEP | BULLISH | 09/16/22 | $90.00 | $276.7K | 7.0K | 2.0K |
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SBUX | CALL | SWEEP | BEARISH | 08/19/22 | $82.50 | $3.0M | 8.3K | 8.2K |
| SBUX | CALL | TRADE | BULLISH | 09/16/22 | $87.50 | $3.0M | 534 | 11.5K |
| SBUX | PUT | SWEEP | BEARISH | 09/16/22 | $85.00 | $480.0K | 1.7K | 1.0K |
| SBUX | CALL | SWEEP | BULLISH | 09/16/22 | $82.50 | $454.5K | 1.9K | 995 |
| SBUX | CALL | SWEEP | BULLISH | 09/16/22 | $90.00 | $276.7K | 7.0K | 2.0K |
Where Is Starbucks Standing Right Now?
- With a volume of 2,832,001, the price of SBUX is down -0.37% at $84.36.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 4 days.
What The Experts Say On Starbucks:
- Deutsche Bank has decided to maintain their Buy rating on Starbucks, which currently sits at a price target of $91.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Starbucks, which currently sits at a price target of $88.
- Piper Sandler has decided to maintain their Neutral rating on Starbucks, which currently sits at a price target of $84.
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.
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Image and article originally from www.benzinga.com. Read the original article here.