Whales with a lot of money to spend have taken a noticeably bearish stance on Spotify Technology.
Looking at options history for Spotify Technology SPOT we detected 18 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $933,216 and 10, calls, for a total amount of $594,848.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $280.0 to $420.0 for Spotify Technology over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 563.69 with a total volume of 1,199.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Spotify Technology's big money trades within a strike price range of $280.0 to $420.0 over the last 30 days.
Spotify Technology 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | PUT | TRADE | BULLISH | 01/16/26 | $43.55 | $40.3 | $40.6 | $280.00 | $609.0K | 5 | 0 |
| SPOT | CALL | SWEEP | BEARISH | 12/20/24 | $25.5 | $25.45 | $25.5 | $350.00 | $106.9K | 162 | 2 |
| SPOT | CALL | SWEEP | BEARISH | 08/16/24 | $29.5 | $29.35 | $29.35 | $300.00 | $85.1K | 411 | 4 |
| SPOT | PUT | SWEEP | BULLISH | 08/16/24 | $14.05 | $13.75 | $13.63 | $300.00 | $72.7K | 552 | 21 |
| SPOT | CALL | SWEEP | BEARISH | 08/02/24 | $14.3 | $12.45 | $12.45 | $325.00 | $71.1K | 286 | 0 |
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.
Having examined the options trading patterns of Spotify Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Spotify Technology
- Trading volume stands at 4,199,183, with SPOT's price down by -0.5%, positioned at $313.79.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 25 days.
Professional Analyst Ratings for Spotify Technology
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $385.5.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Spotify Technology, targeting a price of $375.
- Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Spotify Technology with a target price of $396.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spotify Technology with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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