High-rolling investors have positioned themselves bearish on e.l.f. Beauty (NYSE:ELF), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in ELF often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for e.l.f. Beauty. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $33,388, and 7 calls, totaling $334,986.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $160.0 to $210.0 for e.l.f. Beauty during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for e.l.f. Beauty's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across e.l.f. Beauty's significant trades, within a strike price range of $160.0 to $210.0, over the past month.
e.l.f. Beauty 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ELF | CALL | SWEEP | BULLISH | 10/18/24 | $20.3 | $20.0 | $20.3 | $180.00 | $77.1K | 4 | 1 |
| ELF | CALL | TRADE | BULLISH | 06/28/24 | $20.1 | $18.9 | $19.91 | $160.00 | $59.7K | 60 | 30 |
| ELF | CALL | TRADE | BULLISH | 06/28/24 | $18.2 | $17.7 | $18.2 | $160.00 | $54.6K | 60 | 60 |
| ELF | CALL | SWEEP | BEARISH | 06/21/24 | $19.8 | $19.3 | $19.45 | $160.00 | $38.9K | 211 | 0 |
| ELF | CALL | TRADE | BEARISH | 06/21/24 | $19.5 | $19.0 | $19.15 | $160.00 | $38.3K | 211 | 20 |
About e.l.f. Beauty
e.l.f. Beauty Inc is a cosmetic company based in the United States. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out the sales within the US and internationally, out of which maximum revenue is generated from the US.
After a thorough review of the options trading surrounding e.l.f. Beauty, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of e.l.f. Beauty
- Currently trading with a volume of 572,262, the ELF's price is down by -3.89%, now at $163.8.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 12 days.
Professional Analyst Ratings for e.l.f. Beauty
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $190.0.
- Showing optimism, an analyst from TD Cowen upgrades its rating to Buy with a revised price target of $190.
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 e.l.f. Beauty with Benzinga Pro for real-time alerts.