Starbucks Set to Spill Earnings This Week

SBUX options traders are eyeing a big move for SBUX in the next few months

Deputy Editor
Jan 29, 2024 at 2:59 PM
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Starbucks Corp (NASDAQ:SBUX) will announce its fourth-quarter earnings report after the close on Tuesday, Jan. 30. Analysts expect profits of 93 cents per share, which is higher than the 75 cents per share the company reported this quarter last year. 

Following the coffee chain's last eight earnings reports, Starbucks stock finished five next-day sessions higher, including a 9.5% pop this past November. This time around, the options pits are pricing in a 9.2% swing, regardless of direction, which is much higher than the 5.9% move the stock has averaged over the past two years. 

Ahead of the event, call traders are chiming in at double the intraday average amount. So far, 38,000 calls and 15,000 puts have been exchanged, with new positions being bought to open at the most active March 100 call. 

On the charts, SBUX has been sliding since its mid-November peak, with pressure from its 20-day moving average. The $92 level has moved in as a floor, however. Since last January, the equity is down 14.4%. 

SBUX Jan29

 

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