Whales with a lot of money to spend have taken a noticeably bullish stance on Spotify Technology.
Looking at options history for Spotify Technology SPOT we detected 26 trades.
If we consider the specifics of each trade, it is accurate to state that 65% of the investors opened trades with bullish expectations and 19% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $183,371 and 21, calls, for a total amount of $1,184,260.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $290.0 to $550.0 for Spotify Technology over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Spotify Technology's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Spotify Technology's substantial trades, within a strike price spectrum from $290.0 to $550.0 over the preceding 30 days.
Spotify Technology Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | SWEEP | BULLISH | 11/15/24 | $11.2 | $10.1 | $10.92 | $410.00 | $428.5K | 1.6K | 397 |
| SPOT | PUT | SWEEP | NEUTRAL | 01/16/26 | $33.75 | $27.9 | $30.55 | $300.00 | $60.9K | 94 | 0 |
| SPOT | CALL | SWEEP | BULLISH | 11/15/24 | $6.4 | $6.0 | $6.4 | $430.00 | $51.2K | 95 | 161 |
| SPOT | CALL | TRADE | NEUTRAL | 12/20/24 | $21.9 | $21.3 | $21.55 | $390.00 | $47.4K | 3.6K | 390 |
| SPOT | CALL | TRADE | BULLISH | 12/20/24 | $21.5 | $20.7 | $21.25 | $390.00 | $46.7K | 3.6K | 224 |
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
Spotify Technology's Current Market Status
- Currently trading with a volume of 1,399,235, the SPOT's price is down by -0.18%, now at $368.53.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 43 days.
What Analysts Are Saying About Spotify Technology
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $394.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $340. * An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $340. * Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $440. * Consistent in their evaluation, an analyst from Pivotal Research keeps a Buy rating on Spotify Technology with a target price of $510. * An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $340.
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.
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