A whale with a lot of money to spend has taken a noticeably bearish stance on Starbucks.
Looking at options history for Starbucks (NASDAQ:SBUX) we detected 15 strange trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $707,000 and 2, calls, for a total amount of $76,444.
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 $55.0 to $110.0 for Starbucks over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $55.0 to $110.0 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 | PUT | SWEEP | BEARISH | 01/20/23 | $110.00 | $227.1K | 2.8K | 83 |
| SBUX | PUT | SWEEP | BEARISH | 07/15/22 | $75.00 | $67.0K | 2.4K | 342 |
| SBUX | PUT | TRADE | BULLISH | 01/19/24 | $55.00 | $58.5K | 78 | 0 |
| SBUX | PUT | TRADE | BULLISH | 05/06/22 | $78.00 | $55.8K | 514 | 361 |
| SBUX | CALL | TRADE | BEARISH | 05/06/22 | $78.00 | $43.8K | 274 | 227 |
Where Is Starbucks Standing Right Now?
- With a volume of 7,335,684, the price of SBUX is down -0.5% at $77.53.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 8 days.
What The Experts Say On Starbucks:
- BTIG has decided to maintain their Buy rating on Starbucks, which currently sits at a price target of $110.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Starbucks, which currently sits at a price target of $94.
- UBS has decided to maintain their Neutral rating on Starbucks, which currently sits at a price target of $86.
- Citigroup downgraded its action to Neutral with a price target of $91
- Wedbush downgraded its action to Neutral with a price target of $91
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.
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