Starbuck’s (SBUX) shares are up 83 cents to $26.82 and 16,000 calls traded in the name so far, which is 45X the typical volume and compares to 810 puts. The action is scattered across Oct, Nov and Jan 26, 27, and 28 calls. Credit Suisse is out with positive comments today, saying margins might surprise to the upside. SBUX is due to release results early-Nov. Implied volatility is down 3 percent to 32.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.