Uber Technologies Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Uber Technologies UBER.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with UBER, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 22 uncommon options trades for Uber Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $606,695, and 15 are calls, for a total amount of $759,588.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $95.0 for Uber Technologies over the recent three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Uber Technologies's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Uber Technologies's whale trades within a strike price range from $55.0 to $95.0 in the last 30 days.

Uber Technologies 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Uber Technologies

Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers. The firm's on-demand technology platform could eventually be used for additional products and services, such as autonomous vehicles, delivery via drones, and Uber Elevate, which, as the firm refers to it, provides "aerial ride-sharing." Uber Technologies is headquartered in San Francisco and operates in over 63 countries with over 131 million users that order rides or food at least once a month. Approximately 44% of its gross revenue comes from ridesharing and 34% from food delivery.

Following our analysis of the options activities associated with Uber Technologies, we pivot to a closer look at the company's own performance.

Where Is Uber Technologies Standing Right Now?

• Trading volume stands at 7,317,329, with UBER's price down by -0.68%, positioned at $65.55.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 12 days.

What The Experts Say On Uber Technologies

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $71.4.

• An analyst from Goldman Sachs has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $78.
• Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $69.
• An analyst from Nomura has revised its rating downward to Neutral, adjusting the price target to $62.
• An analyst from Needham persists with their Buy rating on Uber Technologies, maintaining a target price of $71.
• Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Uber Technologies, targeting a price of $77.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Uber Technologies, Benzinga Pro gives you real-time options trades alerts.