Investors with a lot of money to spend have taken a bearish stance on Uber Technologies UBER.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with UBER, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 35 uncommon options trades for Uber Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 42%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $359,098, and 28 are calls, for a total amount of $1,995,504.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $100.0 for Uber Technologies over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Uber Technologies stands at 3983.88, with a total volume reaching 9,406.00. 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 $45.0 to $100.0, throughout the last 30 days.
Uber Technologies Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UBER | CALL | SWEEP | BEARISH | 11/15/24 | $10.25 | $10.1 | $10.14 | $70.00 | $503.0K | 4.5K | 616 |
| UBER | CALL | SWEEP | BULLISH | 12/20/24 | $5.2 | $5.1 | $5.16 | $80.00 | $256.2K | 7.2K | 711 |
| UBER | CALL | TRADE | BEARISH | 11/15/24 | $13.85 | $13.7 | $13.75 | $65.00 | $137.5K | 983 | 100 |
| UBER | PUT | SWEEP | BULLISH | 12/18/26 | $28.5 | $28.0 | $28.0 | $100.00 | $112.0K | 105 | 40 |
| UBER | CALL | TRADE | BULLISH | 01/17/25 | $10.4 | $10.25 | $10.35 | $72.50 | $103.5K | 2.0K | 125 |
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.
Present Market Standing of Uber Technologies
- Currently trading with a volume of 6,025,043, the UBER's price is up by 0.13%, now at $77.54.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 41 days.
What Analysts Are Saying About Uber Technologies
5 market experts have recently issued ratings for this stock, with a consensus target price of $88.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Loop Capital persists with their Buy rating on Uber Technologies, maintaining a target price of $84. * An analyst from Truist Securities has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $88. * In a cautious move, an analyst from Raymond James downgraded its rating to Strong Buy, setting a price target of $90. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $90. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $90.
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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