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 16% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $569,960 and 15, calls, for a total amount of $1,701,835.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $390.0 for Spotify Technology, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Spotify Technology'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 Spotify Technology's whale activity within a strike price range from $200.0 to $390.0 in 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 | CALL | SWEEP | BEARISH | 01/17/25 | $122.3 | $118.85 | $119.26 | $210.00 | $976.7K | 311 | 88 |
| SPOT | PUT | SWEEP | BULLISH | 01/16/26 | $72.05 | $70.45 | $70.45 | $350.00 | $274.7K | 6 | 39 |
| SPOT | PUT | SWEEP | BEARISH | 06/18/26 | $53.0 | $49.65 | $53.0 | $300.00 | $265.0K | 15 | 50 |
| SPOT | CALL | TRADE | BEARISH | 01/17/25 | $47.5 | $46.2 | $46.59 | $300.00 | $139.7K | 1.8K | 16 |
| SPOT | CALL | SWEEP | NEUTRAL | 12/19/25 | $80.7 | $80.7 | $80.7 | $300.00 | $80.7K | 187 | 21 |
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.
Spotify Technology's Current Market Status
- Currently trading with a volume of 599,361, the SPOT's price is up by 0.92%, now at $331.66.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 46 days.
Expert Opinions on Spotify Technology
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $400.0.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $340.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Spotify Technology, which currently sits at a price target of $460.
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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