A large investor apparently thinks that Starbucks might be topping out after an amazing run.
The coffee-shop operator rallied about 600 percent between early and early 2012 but has been hovering in a range since then. Now one investor is looking to exit if it goes back to the all-time highs from last year.
optionMONSTER’s Depth Charge monitoring system detected the sale of 9,500 May 60 calls for $0.94 and the purchase of an equal number of May 52.50 puts for $0.77. Volume was more than 6 times the open interest at each strike, clearly indicating new activity.
— Option Monster