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September 21, 2016  Wed 8:02 AM CT

SBUX: SEE CHART GET CHAIN FIND STRATEGIES
At least one trader is appears to be betting on a floor in shares of Starbucks.

optionMONSTER's tracking programs detected the sale of 2,600 April 50 puts in one print for $2.28 yesterday. This is clearly a new position, as volume surpassed the strike's open interest of 2,459 contracts.

Short puts lock in a price where investors must buy a stock, while letting them collect premium. Traders use the technique when they like a stock and think that the risk of a big drop is limited. (See our Education section)

SBUX rose 0.55 percent to $53.30 yesterday but is down 5 percent in the last month. The last quarterly report on July 21 was bearish. The next quarterly report is estimated for after the close on Nov. 3.

Overall option volume was about average in SBUX.
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