Starbucks Corporation SBUX is ready to onboard its new CEO Laxman Narasimhan.
On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that Starbucks traded more than 3 times its average daily call volume on Monday.
Check out other stocks making moves in the premarket.
There was a buyer of 11,877 of the October weekly 92.5-calls at an average price of $2.35 per contract, Khouw mentioned. Traders bet nearly $3 million that Starbucks shares will hit February’s high by October expiration, he added.
SBUX Price Action: Shares of Starbucks were down 2.83% to $86.49 on Tuesday.
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Image and article originally from www.benzinga.com. Read the original article here.