SBUX Starbucks (SBUX) options offer exposure to the global coffee chain with moderate volatility, turnaround catalysts, and consumer spending sensitivity.

SBUX's same-store sales trends and China recovery are key earnings catalysts. New CEO leadership changes have added turnaround dynamics to the options narrative.

SBUX Options Characteristics

Avg Daily Volume

150K+ contracts

Typical Spread

$0.02-0.05

Typical IV Rank

18-35%

Expirations

Weekly, Monthly, Quarterly, LEAPS

Price Range

$85-110

Correlation

Moderate correlation with consumer discretionary and restaurant stocks

Best Strategies for SBUX

Bull Call Spreads

Turnaround thesis with defined risk

Cash-Secured Puts

Accumulate near multi-year support

Covered Calls

Income plus ~2% dividend yield

Iron Condors

Range-bound income between earnings

LEAPS Calls

Long-term recovery and China growth

Global Coffee Play

Starbucks earnings focus on same-store sales, especially in China and the US. Management turnaround initiatives create potential for re-rating. Options are moderately priced.

SBUX Options FAQ

Is Starbucks a good turnaround options play?

SBUX trades below historical valuation multiples. New leadership and operational improvements create re-rating potential. LEAPS calls and bull call spreads offer defined-risk upside. The ~2% dividend provides additional support.

What drives SBUX options on earnings?

Same-store sales (US and China), transaction count, average ticket size, and new store guidance. China recovery is the swing factor. Earnings typically move the stock 4-8%.