Deep-pocketed investors have adopted a bearish approach towards Uber Technologies UBER, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in UBER usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 49 extraordinary options activities for Uber Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 51% bearish. Among these notable options, 24 are puts, totaling $2,253,426, and 25 are calls, amounting to $1,542,205.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $57.5 to $90.0 for Uber Technologies over the recent three months.
Volume & Open Interest Development
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 $57.5 to $90.0 in the last 30 days.
Uber Technologies Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UBER | PUT | TRADE | NEUTRAL | 01/16/26 | $70.00 | $1.1M | 268 | 900 |
| UBER | CALL | SWEEP | BULLISH | 05/17/24 | $65.00 | $240.0K | 439 | 36 |
| UBER | PUT | SWEEP | BEARISH | 09/20/24 | $57.50 | $193.1K | 1.9K | 676 |
| UBER | CALL | TRADE | BULLISH | 05/17/24 | $65.00 | $169.2K | 439 | 536 |
| UBER | PUT | SWEEP | BEARISH | 01/17/25 | $62.50 | $119.3K | 1.9K | 226 |
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 150 million users that order rides or food at least once a month. Approximately 56% of its gross revenue comes from ridesharing and 31% from food delivery.
After a thorough review of the options trading surrounding Uber Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Uber Technologies
- With a volume of 12,652,378, the price of UBER is down -0.11% at $69.05.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 77 days.
What The Experts Say On Uber Technologies
In the last month, 5 experts released ratings on this stock with an average target price of $78.6.
- An analyst from JP Morgan persists with their Overweight rating on Uber Technologies, maintaining a target price of $84.
- An analyst from Susquehanna persists with their Positive rating on Uber Technologies, maintaining a target price of $85.
- An analyst from Mizuho persists with their Buy rating on Uber Technologies, maintaining a target price of $77.
- Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Uber Technologies, targeting a price of $76.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $71.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Uber Technologies options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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