Financial giants have made a conspicuous bearish move on Spotify Technology. Our analysis of options history for Spotify Technology SPOT revealed 63 unusual trades.
Delving into the details, we found 34% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 37 were puts, with a value of $2,959,985, and 26 were calls, valued at $1,728,922.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $180.0 to $370.0 for Spotify Technology over the last 3 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 Spotify Technology'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 Spotify Technology's whale trades within a strike price range from $180.0 to $370.0 in the last 30 days.
Spotify Technology Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | SWEEP | BEARISH | 04/26/24 | $11.6 | $11.55 | $11.55 | $275.00 | $346.5K | 93 | 890 |
| SPOT | PUT | TRADE | NEUTRAL | 04/26/24 | $5.25 | $4.8 | $5.0 | $250.00 | $250.0K | 476 | 567 |
| SPOT | PUT | SWEEP | BEARISH | 09/20/24 | $102.95 | $102.95 | $102.95 | $370.00 | $205.9K | 3 | 20 |
| SPOT | PUT | SWEEP | NEUTRAL | 04/26/24 | $6.0 | $5.95 | $6.0 | $250.00 | $152.5K | 476 | 1.6K |
| SPOT | PUT | TRADE | BEARISH | 01/17/25 | $18.75 | $18.0 | $18.75 | $230.00 | $150.0K | 880 | 80 |
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.
Current Position of Spotify Technology
- Trading volume stands at 2,185,455, with SPOT's price down by -1.96%, positioned at $270.42.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 1 days.
What Analysts Are Saying About Spotify Technology
In the last month, 5 experts released ratings on this stock with an average target price of $317.0.
- An analyst from Canaccord Genuity has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $330.
- Maintaining their stance, an analyst from Loop Capital continues to hold a Hold rating for Spotify Technology, targeting a price of $250.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Spotify Technology with a target price of $340.
- An analyst from Barclays has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $335.
- Maintaining their stance, an analyst from Macquarie continues to hold a Outperform rating for Spotify Technology, targeting a price of $330.
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 Spotify Technology 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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