Investors with a lot of money to spend have taken a bullish stance on Spotify Technology SPOT.
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 SPOT, 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 10 uncommon options trades for Spotify Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $73,384, and 8 are calls, for a total amount of $521,182.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $257.5 to $300.0 for Spotify Technology over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Spotify Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Spotify Technology's significant trades, within a strike price range of $257.5 to $300.0, over the past month.
Spotify Technology Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | TRADE | BULLISH | 05/17/24 | $300.00 | $152.8K | 261 | 637 |
| SPOT | CALL | SWEEP | BEARISH | 05/17/24 | $300.00 | $131.9K | 261 | 838 |
| SPOT | CALL | SWEEP | BEARISH | 09/20/24 | $290.00 | $51.3K | 95 | 43 |
| SPOT | CALL | SWEEP | BEARISH | 03/28/24 | $262.50 | $46.0K | 430 | 225 |
| SPOT | PUT | SWEEP | BULLISH | 04/19/24 | $257.50 | $44.1K | 48 | 95 |
About Spotify Technology
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 86% and 14% of Spotify's 2023 total revenue, respectively.
Present Market Standing of Spotify Technology
- Trading volume stands at 1,189,929, with SPOT's price up by 4.36%, positioned at $273.35.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 28 days.
What The Experts Say On Spotify Technology
1 market experts have recently issued ratings for this stock, with a consensus target price of $315.0.
- An analyst from B of A Securities persists with their Buy rating on Spotify Technology, maintaining a target price of $315.
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 Spotify Technology, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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