Spotlight on Spotify Technology: Analyzing the Surge in Options Activity - Spotify Technology (NYSE:SPOT)

Investors with a lot of money to spend have taken a bullish stance on Spotify Technology (NYSE:SPOT).

And retail traders should know.

We noticed this today when the positions 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 SPOT, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Spotify Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $58,050, and 7, calls, for a total amount of $286,450.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $350.0 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 $350.0 to $390.0 in the last 30 days.

Spotify Technology Option Volume And Open Interest Over 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	11/08/24	$2.23	$1.11	$1.29	$385.00	$58.0K	547	554
SPOT	CALL	TRADE	BULLISH	06/20/25	$57.5	$56.05	$57.5	$390.00	$57.5K	42	10
SPOT	CALL	TRADE	BULLISH	01/17/25	$40.5	$40.45	$40.5	$380.00	$48.6K	470	12
SPOT	CALL	TRADE	NEUTRAL	11/22/24	$25.45	$22.85	$24.0	$390.00	$48.0K	45	41
SPOT	CALL	SWEEP	BEARISH	11/22/24	$25.25	$22.4	$23.2	$390.00	$46.4K	45	21

About Spotify Technology

Spotify is the leading global music streaming service provider, with over 600 million monthly active users and 250 million paying subscribers, with the latter comprising the firm's premium segment. Most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

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.

Current Position of Spotify Technology

Currently trading with a volume of 417,376, the SPOT's price is up by 0.37%, now at $392.6.
RSI readings suggest the stock is currently may be approaching overbought.
Anticipated earnings release is in 5 days.

Professional Analyst Ratings for Spotify Technology

5 market experts have recently issued ratings for this stock, with a consensus target price of $453.6.

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. * Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Spotify Technology with a target price of $438. * Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Spotify Technology with a target price of $490. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $430. * An analyst from Deutsche Bank has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $440. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Spotify Technology with a target price of $470.

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.

SPOTSpotify Technology SA

$417.47-0.09%

Overview

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