Whales with a lot of money to spend have taken a noticeably bullish stance on Shake Shack.
Looking at options history for Shake Shack (NYSE:SHAK) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 72% of the investors opened trades with bullish expectations and 18% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $125,380 and 9, calls, for a total amount of $973,096.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $67.5 and $110.0 for Shake Shack, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Shake Shack's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Shake Shack's substantial trades, within a strike price spectrum from $67.5 to $110.0 over the preceding 30 days.
Shake Shack 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
About Shake Shack
Shake Shack Inc is a roadside burger stand. It is serving a classic American menu of premium burgers, hot dogs, crispy chicken, frozen custard, crinkle-cut fries, shakes, beer, wine and more. The company's burgers are made with a whole-muscle blend of all-natural, hormone and antibiotic-free Angus beef, ground fresh daily, cooked to order and served on a non-genetically modified organism (GMO) potato bun. Its menu focuses on food and beverages, crafted from a range of classic American foods. The company serves draft Root Beer, seasonal freshly-squeezed lemonade, organic fresh brewed iced tea, cold brew coffee, organic apple juice, and Shack20 bottled water.
Having examined the options trading patterns of Shake Shack, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Shake Shack
- With a trading volume of 115,640, the price of SHAK is down by -0.97%, reaching $98.57.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 7 days from now.
Professional Analyst Ratings for Shake Shack
In the last month, 5 experts released ratings on this stock with an average target price of $119.0.
- An analyst from TD Cowen downgraded its action to Buy with a price target of $125.
- An analyst from TD Cowen downgraded its action to Buy with a price target of $125.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Shake Shack, which currently sits at a price target of $105.
- An analyst from TD Cowen downgraded its action to Buy with a price target of $125.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Shake Shack, targeting a price of $115.
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 Shake Shack options trades with real-time alerts from Benzinga Pro.
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