Trader makes big bet that Starbucks will stay hot
A trader made a big bet Tuesday morning on a rise in shares of Starbucks (SBUX). So far, a total of 10,400 contracts of the March 67.50 call have changed hands, including a single trade of 9,900 contracts that moved at 10:25 this morning. Open interest was 322 contracts. That trade, and some of today’s other trades, moved high in the bid-ask spread, indicating these new contracts are being bought to open.
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About Starbucks Corporation
Through a global chain of almost 30,200 company-owned and licensed stores, Starbucks sells coffee, espresso, teas, cold blended beverages, food, and accessories. The company also distributes packaged and single-serve coffee, tea, juice, and pastries through its own stores, grocery store chains, and warehouse clubs under the Starbucks and Teavana brands under the Global Coffee Alliance partnership with Nestle. In addition, Starbucks markets bottled beverages, ice creams, and liqueurs through various partnerships with Pepsi, Anheuser-Busch, Tingyi, and Arla. In fiscal 2018, the Americas segment (including the U.S.) represented 68% of total revenue, followed by the China-Asia Pacific segment (18%), channel development (9%), Europe-Middle East-Africa (4%), and corporate-other (1%).