Deep-pocketed investors have adopted a bullish approach towards Spotify Technology SPOT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SPOT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for Spotify Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 39% bearish. Among these notable options, 3 are puts, totaling $239,975, and 20 are calls, amounting to $1,741,376.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $380.0 to $465.0 for Spotify Technology over the recent three months.
Analyzing Volume & Open Interest
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 $380.0 to $465.0 in the last 30 days.
Spotify Technology Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | TRADE | NEUTRAL | 12/20/24 | $32.35 | $30.55 | $31.4 | $390.00 | $178.9K | 4.4K | 260 |
| SPOT | PUT | TRADE | BEARISH | 11/15/24 | $24.0 | $23.1 | $23.8 | $410.00 | $178.5K | 15 | 75 |
| SPOT | CALL | TRADE | NEUTRAL | 12/20/24 | $32.55 | $30.55 | $31.4 | $390.00 | $175.8K | 4.4K | 165 |
| SPOT | CALL | TRADE | BULLISH | 12/20/24 | $32.05 | $30.6 | $31.75 | $390.00 | $161.9K | 4.4K | 400 |
| SPOT | CALL | TRADE | BULLISH | 12/20/24 | $32.15 | $30.55 | $31.7 | $390.00 | $148.9K | 4.4K | 349 |
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.
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
Where Is Spotify Technology Standing Right Now?
- With a trading volume of 798,576, the price of SPOT is up by 0.58%, reaching $402.17.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 4 days from now.
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. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Spotify Technology, targeting a price of $470. * An analyst from Keybanc has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $490. * An analyst from Rosenblatt has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $438. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $430. * Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Spotify Technology with a target price of $440.
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 Spotify Technology, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
