Some big people with lots of money decided to bet that e.l.f. Beauty, a company that sells makeup and other beauty products, will not do well in the future. They used something called options to make this bet. Options are like special contracts that give them the right to buy or sell shares of the company at a certain price by a certain date. The overall feeling of these big people is that they think e.l.f. Beauty will go down, while only a few of them think it will go up. Read from source...

1. The title is misleading and sensationalized, as it implies that only "market whales" are betting on ELF options, while the article does not provide any evidence or data to support this claim. It also suggests a causal relationship between these big bets and the stock performance, without accounting for other factors that may influence the market.
2. The article relies heavily on anecdotal evidence and unverified sources, as it mentions "we noticed this today" and "somebody knows something is about to happen". These statements are not backed up by any credible data or analysis, and they create a sense of uncertainty and speculation among the readers.
3. The article uses vague and ambiguous terms, such as "uncommon options trades", "this isn't normal", and "special options", without defining what these terms mean or how they are measured. This makes it hard for the readers to understand the significance of the reported trades and their implications for the stock price.
4. The article fails to provide any context or background information on e.l.f. Beauty, its industry, its competitors, its financial performance, and its market position. This makes it difficult for the readers to assess the value and potential of the company and its options, as well as the risks and challenges it may face in the future.
5. The article does not disclose any potential conflicts of interest or biases that the author or the publisher may have regarding e.l.f. Beauty or its options. This raises questions about the objectivity and integrity of the information presented, as well as the motivations behind it.

- Given that e.l.f. Beauty's stock price has been volatile in recent months, with high short interest and large bets by whales on both sides of the market, I would suggest a cautious approach to investing in this company or its options.
- If you are looking for long positions, you may want to consider buying call options with strike prices below the current market price, as they offer upside potential and limited downside risk. Alternatively, you could buy shares outright if you believe the stock will rebound from recent weakness and beat earnings expectations.
- If you are looking for short positions, you may want to consider selling put options with strike prices above the current market price, as they offer income potential and limited risk of assignment. Alternatively, you could sell shares short if you believe the stock will continue to decline and underperform the market. However, this strategy involves higher risk and more regulatory scrutiny, so be careful and do your own research before entering any short positions.
- If you are looking for neutral or hedged positions, you may want to consider selling call options with strike prices above the current market price, as they offer income potential and limited risk of loss if the stock stays flat or rises slightly. Alternatively, you could buy protective puts with strike prices below the current market price, as they offer downside protection and limited risk of loss if the stock stays flat or falls moderately.
- In any case, it is important to monitor the news and earnings reports for e.l.f. Beauty and other related companies, as well as the overall market conditions and sentiment, in order to adjust your investment strategy accordingly. Remember that I am not a licensed financial advisor and these are only my suggestions based on the information available to me at this time. Please consult with a professional before making any decisions.