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 28 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 50% leaning bullish and 35% bearish. Among these notable options, 5 are puts, totaling $307,670, and 23 are calls, amounting to $1,924,779.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $90.0 for Uber Technologies over the recent three months.
Volume & Open Interest Development
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 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 trades within a strike price range from $50.0 to $90.0 in the last 30 days.
Uber Technologies Option Activity Analysis: Last 30 Days
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 | 08/16/24 | $3.4 | $3.35 | $3.4 | $70.00 | $489.4K | 21.8K | 7.1K |
| UBER | CALL | TRADE | NEUTRAL | 03/21/25 | $20.5 | $20.3 | $20.4 | $50.00 | $395.7K | 394 | 200 |
| UBER | PUT | SWEEP | BULLISH | 06/14/24 | $1.43 | $1.41 | $1.42 | $66.00 | $134.9K | 225 | 1.0K |
| UBER | CALL | SWEEP | BEARISH | 06/21/24 | $5.6 | $5.55 | $5.55 | $60.00 | $111.0K | 4.9K | 1.0K |
| UBER | CALL | SWEEP | BEARISH | 06/21/24 | $5.6 | $5.55 | $5.55 | $60.00 | $111.0K | 4.9K | 541 |
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.
After a thorough review of the options trading surrounding Uber Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Uber Technologies
- Trading volume stands at 9,852,379, with UBER's price up by 2.02%, positioned at $65.86.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 55 days.
Professional Analyst Ratings for Uber Technologies
5 market experts have recently issued ratings for this stock, with a consensus target price of $86.0.
- An analyst from JMP Securities persists with their Market Outperform rating on Uber Technologies, maintaining a target price of $75.
- Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Uber Technologies, targeting a price of $80.
- An analyst from TD Cowen has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $88.
- An analyst from UBS persists with their Buy rating on Uber Technologies, maintaining a target price of $95.
- An analyst from BMO Capital downgraded its action to Outperform with a price target of $92.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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