Check Out What Whales Are Doing With SPOT

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

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 SPOT, 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 22 uncommon options trades for Spotify Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 40%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $1,829,739, and 10 are calls, for a total amount of $586,815.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $330.0 to $880.0 for Spotify Technology during the past quarter.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 327.12 with a total volume of 1,771.00.

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 $330.0 to $880.0 over the last 30 days.

Spotify Technology Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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

Where Is Spotify Technology Standing Right Now?

• With a volume of 541,566, the price of SPOT is up 2.77% at $567.02.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 27 days.

Expert Opinions on Spotify Technology

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $740.0.

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 Wells Fargo keeps a Overweight rating on Spotify Technology with a target price of $740. * An analyst from China Renaissance downgraded its action to Buy with a price target of $740.

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.