Schwab Network Options Corner: SBUX Upgrade & Price Target Hikes
Jan 23, 2026
Tom White, options strategist who builds practical covered-call trades, and Rick Ducat, technical analyst who spots key chart levels. They discuss Starbucks’ recent upgrade and price-target hikes. Rick pinpoints crucial support and resistance and momentum signals. Tom walks through a covered-call trade and managing short calls near earnings.
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Starbucks Showing Early Rebound Signals
- Starbucks has underperformed peers and the broader market but shows signs of a budding rebound with recent rallies.
- Key technical levels to watch are roughly 90, 94, and 97, with thin trading until about 112–113.
Momentum Improves But Remains Fragile
- Shorter-term moving averages are crossing higher and RSI is just above 70, suggesting improving momentum but with caution.
- Volume profile highlights heavy trading zones near 85, ~92, and near 97 which may act as support/resistance.
Options-Implied Move Near 10%
- Options market-implied expected move for the next monthly expiration is roughly 10%.
- Traders should use this range to frame short-term risk around earnings and volatility.