Decoding Spotify Technology's Options Activity: What's the Big Picture?

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 26 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 46% leaning bullish and 42% bearish. Among these notable options, 10 are puts, totaling $2,438,110, and 16 are calls, amounting to $1,231,946.

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 $250.0 and $700.0 for Spotify Technology, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 229.09 with a total volume of 1,283.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Spotify Technology's big money trades within a strike price range of $250.0 to $700.0 over the last 30 days.

Spotify Technology 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Spotify Technology

Spotify is the leading global music streaming service provider, with nearly 700 million monthly active users and over 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

Current Position of Spotify Technology

• With a volume of 854,727, the price of SPOT is up 3.13% at $587.33.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 34 days.

Expert Opinions on Spotify Technology

1 market experts have recently issued ratings for this stock, with a consensus target price of $675.0.

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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.