Starbucks (SBUX) – Bullish Options Action Trade for Jan 22nd, 2019

On Friday’s Options Action, the crew analyzed the performance of Starbucks (SBUXWealth Strength IndexSBUX is Extremely Up and trending Up). SBUXWealth Strength IndexSBUX is Extremely Up and trending Up has outperformed the market during the end of last year’s selloff, showing strong relative strength. Coupled with a decade long bullish triangle formation that is near its resistance, expectations are for a continuation higher. Expecting SBUXWealth Strength IndexSBUX is Extremely Up and trending Up to break higher, Michael Khouw suggests buying an April 65 Call for a $2.50 Debit. As of Friday’s close, these calls were trading at a $2.52 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: SBUXWealth Strength IndexSBUX is Extremely Up and trending Up Options Action Video

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