tsla

Why Analysts, Options Traders Are Targeting Starbucks Stock

Options volume is running at six times the intraday average

Deputy Editor
Aug 2, 2023 at 10:24 AM
facebook X logo linkedin


Starbucks Corp (NASDAQ:SBUX) stock is higher this morning, last seen up 1.6% at $102.84 following the company's fiscal third-quarter earnings report. The coffee concern announced earnings per share of $1 on revenue of $9.17 million, with the former beating forecasts while the latter fell shy of expectations. Plus, the company reaffirmed its fiscal 2023 forecast.

Options volume is running at six times the intraday average in response. So far, 54,000 calls and 30,000 puts have crossed the tape. The weekly 8/4 103-strike call is the most active contract, followed by the 102-strike call in the same series.

This denotes a shift in sentiment, per SBUX's Schaeffer's put/call open interest ratio (SOIR) of 1.07 that stands in the 99th percentile of annual readings. Conversely, the equity's 50-day call/put volume ratio of 2.39 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is higher than 83% of readings from the past year.

Analysts are split on how to play Starbucks stock. RBC raised its target price by $1 to $110, while Stifel, Wedbush, Jefferies, and Barclays all issued negative price revisions. Meanwhile, the current 12-month consensus target price of $114.73 is a 12% discount to the security's current perch.

On the charts, the 240-day moving average saved the security's early morning pullback. The shares boast a 22.3% year-over-year lead, but sport a much thinner 3.4% year-to-date gain.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.