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 10 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 80% leaning bullish and 20% bearish. Among these notable options, 4 are puts, totaling $185,120, and 6 are calls, amounting to $723,894.
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 $60.0 to $72.5 for Uber Technologies over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Uber Technologies stands at 5281.4, with a total volume reaching 2,180.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Uber Technologies, situated within the strike price corridor from $60.0 to $72.5, throughout the last 30 days.
Uber Technologies 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UBER | CALL | SWEEP | BULLISH | 09/20/24 | $2.81 | $2.8 | $2.81 | $72.50 | $562.8K | 2.8K | 3 |
| UBER | PUT | SWEEP | BULLISH | 12/20/24 | $7.7 | $7.6 | $7.6 | $67.50 | $58.5K | 788 | 128 |
| UBER | PUT | SWEEP | BULLISH | 09/20/24 | $2.71 | $2.56 | $2.56 | $60.00 | $57.6K | 5.3K | 235 |
| UBER | PUT | SWEEP | BEARISH | 07/19/24 | $7.75 | $7.0 | $7.75 | $72.50 | $38.7K | 1.7K | 30 |
| UBER | CALL | SWEEP | BULLISH | 06/07/24 | $1.42 | $1.34 | $1.41 | $65.00 | $37.5K | 1.3K | 433 |
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.
Having examined the options trading patterns of Uber Technologies, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Uber Technologies
- With a volume of 2,493,673, the price of UBER is up 0.33% at $65.14.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 61 days.
What Analysts Are Saying About Uber Technologies
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $88.6.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Uber Technologies with a target price of $87.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $90.
- An analyst from Needham downgraded its action to Buy with a price target of $90.
- An analyst from Loop Capital has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $83.
- An analyst from Citigroup persists with their Buy rating on Uber Technologies, maintaining a target price of $93.
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.
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