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 8 trades.
If we consider the specifics of each trade, it is accurate to state that 12% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $104,195 and 5, calls, for a total amount of $292,310.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $460.0 for Spotify Technology during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 709.43 with a total volume of 47.00.
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 $270.0 to $460.0 over the last 30 days.
Spotify Technology Option Activity Analysis: Last 30 Days
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 | NEUTRAL | 01/16/26 | $37.05 | $33.7 | $33.7 | $460.00 | $144.9K | 22 | 5 |
| SPOT | CALL | TRADE | BULLISH | 07/12/24 | $3.15 | $2.14 | $2.8 | $325.00 | $49.8K | 90 | 22 |
| SPOT | PUT | TRADE | BEARISH | 01/17/25 | $39.3 | $38.5 | $39.3 | $320.00 | $39.3K | 448 | 11 |
| SPOT | PUT | TRADE | BEARISH | 01/17/25 | $39.2 | $38.2 | $39.2 | $320.00 | $39.2K | 448 | 1 |
| SPOT | CALL | SWEEP | BEARISH | 07/05/24 | $2.73 | $1.52 | $1.9 | $317.50 | $37.9K | 650 | 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.
After a thorough review of the options trading surrounding Spotify Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Spotify Technology Standing Right Now?
- With a volume of 317,897, the price of SPOT is down -1.14% at $310.27.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 21 days.
Professional Analyst Ratings for Spotify Technology
3 market experts have recently issued ratings for this stock, with a consensus target price of $383.6666666666667.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Spotify Technology, targeting a price of $380.
- An analyst from Rosenblatt has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $396.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $375.
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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