Spotlight on Uber Technologies: Analyzing the Surge in Options Activity

High-rolling investors have positioned themselves bearish on Uber Technologies UBER, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in UBER often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 11 options trades for Uber Technologies. This is not a typical pattern.

The sentiment among these major traders is split, with 18% bullish and 81% bearish. Among all the options we identified, there was one put, amounting to $31,020, and 10 calls, totaling $4,469,255.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $60.0 for Uber Technologies over the last 3 months.

Volume & Open Interest Trends

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 Uber Technologies'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 Uber Technologies's whale activity within a strike price range from $25.0 to $60.0 in the last 30 days.

Uber Technologies Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Uber Technologies

Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers. The firm's on-demand technology platform could eventually be used for additional products and services, such as autonomous vehicles, delivery via drones, and Uber Elevate, which, as the firm refers to it, provides "aerial ride-sharing." Uber Technologies is headquartered in San Francisco and operates in over 63 countries with over 131 million users that order rides or food at least once a month. Approximately 44% of its gross revenue comes from ridesharing and 34% from food delivery.

Having examined the options trading patterns of Uber Technologies, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Uber Technologies

• With a volume of 1,906,343, the price of UBER is down -1.14% at $53.82.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 79 days.

What The Experts Say On Uber Technologies

In the last month, 5 experts released ratings on this stock with an average target price of $58.6.

• Reflecting concerns, an analyst from Seaport Global lowers its rating to Buy with a new price target of $51.
• Showing optimism, an analyst from Keybanc upgrades its rating to Overweight with a revised price target of $60.
• Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Uber Technologies, targeting a price of $62.
• Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Uber Technologies, targeting a price of $58.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Uber Technologies with a target price of $62.

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 Uber Technologies with Benzinga Pro for real-time alerts.