Investors with a lot of money to spend have taken a bullish stance on Uber Technologies UBER.
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 UBER, 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 21 uncommon options trades for Uber Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 38%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $1,181,035, and 13 are calls, for a total amount of $565,714.
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 $32.5 to $95.0 for Uber Technologies over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Uber Technologies options trades today is 3029.33 with a total volume of 9,637.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Uber Technologies's big money trades within a strike price range of $32.5 to $95.0 over the last 30 days.
Uber Technologies 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UBER | PUT | SWEEP | BULLISH | 07/19/24 | $6.05 | $6.0 | $6.0 | $72.50 | $694.2K | 1.0K | 1.1K |
| UBER | PUT | TRADE | NEUTRAL | 05/17/24 | $1.35 | $1.31 | $1.33 | $65.00 | $146.5K | 13.4K | 1.1K |
| UBER | CALL | TRADE | BULLISH | 07/19/24 | $37.8 | $37.5 | $37.8 | $32.50 | $132.3K | 183 | 0 |
| UBER | PUT | SWEEP | BEARISH | 01/17/25 | $26.45 | $26.2 | $26.2 | $95.00 | $115.2K | 180 | 44 |
| UBER | CALL | SWEEP | BULLISH | 07/19/24 | $4.8 | $4.75 | $4.8 | $72.50 | $69.6K | 1.4K | 50 |
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.
In light of the recent options history for Uber Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Uber Technologies
- With a trading volume of 5,585,294, the price of UBER is up by 1.32%, reaching $69.89.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 15 days from now.
What Analysts Are Saying About Uber Technologies
In the last month, 5 experts released ratings on this stock with an average target price of $92.6.
- An analyst from Needham downgraded its action to Buy with a price target of $90.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $85.
- An analyst from Tigress Financial persists with their Buy rating on Uber Technologies, maintaining a target price of $96.
- An analyst from MoffettNathanson has revised its rating downward to Buy, adjusting the price target to $92.
- An analyst from Jefferies has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $100.
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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