Financial giants have made a conspicuous bullish move on Starbucks. Our analysis of options history for Starbucks (NASDAQ:SBUX) revealed 26 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $756,604, and 11 were calls, valued at $627,210.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $90.0 for Starbucks over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Starbucks stands at 6638.85, with a total volume reaching 26,518.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Starbucks, situated within the strike price corridor from $75.0 to $90.0, throughout the last 30 days.
Starbucks Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SBUX | CALL | TRADE | BULLISH | 06/21/24 | $0.69 | $0.64 | $0.69 | $80.00 | $276.0K | 24.6K | 1.8K |
| SBUX | PUT | SWEEP | NEUTRAL | 08/16/24 | $3.8 | $3.7 | $3.75 | $80.00 | $118.7K | 5.6K | 2.5K |
| SBUX | PUT | SWEEP | BULLISH | 08/16/24 | $3.8 | $3.75 | $3.75 | $80.00 | $86.9K | 5.6K | 1.7K |
| SBUX | PUT | SWEEP | NEUTRAL | 08/16/24 | $3.8 | $3.7 | $3.75 | $80.00 | $79.3K | 5.6K | 1.2K |
| SBUX | PUT | SWEEP | BULLISH | 08/16/24 | $3.8 | $3.7 | $3.75 | $80.00 | $75.2K | 5.6K | 1.0K |
About Starbucks
Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.
After a thorough review of the options trading surrounding Starbucks, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Starbucks's Current Market Status
- With a trading volume of 5,312,962, the price of SBUX is down by -0.5%, reaching $79.8.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 40 days from now.
Expert Opinions on Starbucks
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $98.5.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Starbucks with a target price of $112.
- In a cautious move, an analyst from TD Cowen downgraded its rating to Hold, setting a price target of $85.
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 Starbucks with Benzinga Pro for real-time alerts.