Looking At Uber Technologies's Recent Unusual Options Activity

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 53 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 35% leaning bullish and 64% bearish. Among these notable options, 10 are puts, totaling $508,926, and 43 are calls, amounting to $7,030,670.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $90.0 for Uber Technologies during the past quarter.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Uber Technologies's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Uber Technologies's substantial trades, within a strike price spectrum from $30.0 to $90.0 over the preceding 30 days.

Uber Technologies 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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 who 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.

Uber Technologies's Current Market Status

• With a volume of 12,975,570, the price of UBER is up 3.98% at $79.48.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 68 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 $83.8.

• An analyst from Citigroup persists with their Buy rating on Uber Technologies, maintaining a target price of $83.
• Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Uber Technologies with a target price of $76.
• An analyst from JP Morgan persists with their Overweight rating on Uber Technologies, maintaining a target price of $95.
• Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $90.
• Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Uber Technologies, targeting a price of $75.

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.