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Looking At e.l.f. Beauty's Recent Unusual Options Activity

Author: Benzinga Insights | September 06, 2024 11:16am

Financial giants have made a conspicuous bearish move on e.l.f. Beauty. Our analysis of options history for e.l.f. Beauty (NYSE:ELF) revealed 20 unusual trades.

Delving into the details, we found 30% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 17 were puts, with a value of $1,259,994, and 3 were calls, valued at $292,000.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $180.0 for e.l.f. Beauty over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of e.l.f. Beauty stands at 210.75, with a total volume reaching 3,457.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in e.l.f. Beauty, situated within the strike price corridor from $110.0 to $180.0, throughout the last 30 days.

e.l.f. Beauty 30-Day Option Volume & Interest Snapshot

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
ELF PUT SWEEP BEARISH 09/20/24 $20.8 $20.7 $20.8 $147.00 $549.1K 1.0K 264
ELF CALL TRADE BULLISH 09/20/24 $7.2 $6.5 $7.2 $135.00 $216.0K 351 0
ELF PUT SWEEP BULLISH 09/20/24 $40.9 $39.0 $39.0 $167.50 $195.0K 71 51
ELF PUT SWEEP BEARISH 03/21/25 $14.9 $14.8 $14.8 $115.00 $62.3K 10 58
ELF PUT SWEEP BULLISH 03/21/25 $15.0 $14.6 $14.9 $115.00 $50.6K 10 118

About e.l.f. Beauty

e.l.f. Beauty Inc is a multi-brand beauty company that offers inclusive, accessible, clean, vegan and cruelty-free cosmetics and skin care products. The Company's mission is to make the best of beauty accessible to every eye, lip, face, and skin concern. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out sales within the US and internationally, out of which maximum revenue is generated from the US.

Having examined the options trading patterns of e.l.f. Beauty, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is e.l.f. Beauty Standing Right Now?

  • Trading volume stands at 1,235,313, with ELF's price down by -5.18%, positioned at $128.67.
  • RSI indicators show the stock to be may be approaching oversold.
  • Earnings announcement expected in 54 days.

Professional Analyst Ratings for e.l.f. Beauty

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $235.2.

  • An analyst from UBS persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $230.
  • Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for e.l.f. Beauty, targeting a price of $240.
  • Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price of $223.
  • Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for e.l.f. Beauty, targeting a price of $223.
  • Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for e.l.f. Beauty, targeting a price of $260.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest e.l.f. Beauty options trades with real-time alerts from Benzinga Pro.

Posted In: ELF

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