Starbucks has earnings coming up on 4/21 and there are a lot of bullish bets going into earnings. The APR4 16 Weekly 64 Calls have now traded over 5,000 contracts which are the ones listed below.
Alert: SBUX Fri 4/22 64.0 Calls (Wkly) Sweep: 1267 @ ASK $0.31: 3810 traded vs 280 OI: Earnings 4/21 After Close $60.89 Ref
Also 1,800 on the APR3 16 Weekly 62 Calls have traded today.
Someone also went out in May 16 Monthly expiration where the 62.5 Calls had 1,100 in volume today and the 65 Calls had 2,250 in volume so far today.
All of this bullish action and no PUT action to speak of.
I got long the May16 60 Calls (5) at 2.47 (Stock Price 61.02). I will probably hold them until the day before earnings and than decide what I want to do with them.
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