Deep-pocketed investors have adopted a bullish 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 29 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 68% leaning bullish and 31% bearish. Among these notable options, 9 are puts, totaling $392,326, and 20 are calls, amounting to $1,060,640.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $110.0 for Uber Technologies over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $45.0 to $110.0 in the last 30 days.
Uber Technologies Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UBER | CALL | SWEEP | BULLISH | 09/20/24 | $90.00 | $162.2K | 1.6K | 428 |
| UBER | CALL | SWEEP | BEARISH | 01/17/25 | $82.50 | $141.0K | 196 | 150 |
| UBER | CALL | SWEEP | BULLISH | 04/19/24 | $70.00 | $98.4K | 8.8K | 1 |
| UBER | PUT | SWEEP | BULLISH | 01/17/25 | $60.00 | $97.2K | 4.1K | 0 |
| UBER | CALL | TRADE | BEARISH | 05/17/24 | $60.00 | $84.0K | 288 | 55 |
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.
Following our analysis of the options activities associated with Uber Technologies, we pivot to a closer look at the company's own performance.
Present Market Standing of Uber Technologies
- Trading volume stands at 10,946,301, with UBER's price down by -1.71%, positioned at $74.77.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 43 days.
What The Experts Say On Uber Technologies
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $93.5.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Uber Technologies, targeting a price of $95.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Uber Technologies with a target price of $92.
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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