Starbucks stock jumped 5% after yesterday's Q2 earnings, moving from $97 to $102. Before earnings, puts led calls 7:5, but it was the call buyers who won. The options setup showed retail aggressively hedging with puts while smart money positioned bullish. After the earnings beat with better-than-expected revenue and guidance, calls exploded while put holders were on the wrong side. Implied move was 6.1%, and the stock moved exactly within that range – upward. A classic example of how options markets work before earnings: the majority hedges, the minority collects.
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earningsApril 29, 20261 min read
Starbucks Calls Print After Earnings Beat
Starbucks +5% after earnings. Calls print despite puts leading 7:5 before the event. Smart money vs. retail.
Thomas Bergmann·Senior Market Analyst
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Thomas Bergmann
Senior Market Analyst
Derivatives Specialist
8++ YearsCAIA-aligned knowledge
Thomas Bergmann is an experienced market analyst with a keen eye for market trends and derivative structures. After studying Business Administration with a focus on Finance at the University of Mannheim, he gained valuable experience at renowned brokers and financial service providers. His expertise includes technical analysis, Options Greeks, and developing trading strategies for various market conditions. Thomas uses advanced AI-powered tools for market analysis and pattern recognition. At BeInOptions, he is responsible for market commentary, strategy analysis, and educational content. His articles are known for their practical approach and clarity. "I believe in transparent financial education. Everyone should understand the tools they use – whether it's a simple call option or a complex spread strategy."
Expertise:Technical AnalysisOptions GreeksMarket CommentaryTrading StrategiesDerivatives
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