Whales with a lot of money to spend have taken a noticeably bearish stance on Spotify Technology.
Looking at options history for Spotify Technology SPOT we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $296,437 and 5, calls, for a total amount of $188,860.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $155.0 and $230.0 for Spotify Technology, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $155.0 to $230.0 in the last 30 days.
Spotify Technology Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SPOT | PUT | SWEEP | BULLISH | 01/19/24 | $202.50 | $58.8K | 1.0K | 391 |
| SPOT | PUT | SWEEP | BULLISH | 01/19/24 | $197.50 | $51.2K | 436 | 180 |
| SPOT | PUT | TRADE | BEARISH | 01/17/25 | $155.00 | $49.6K | 1.5K | 40 |
| SPOT | CALL | TRADE | BEARISH | 01/26/24 | $160.00 | $49.3K | 32 | 15 |
| SPOT | PUT | SWEEP | BEARISH | 01/19/24 | $190.00 | $48.4K | 1.2K | 490 |
About Spotify Technology
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 489 million total listeners. The firm monetizes its users through a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 87% and 13% of Spotify's 2022 total revenue, respectively.
In light of the recent options history for Spotify Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Spotify Technology
- Trading volume stands at 1,658,796, with SPOT's price down by -3.34%, positioned at $196.55.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 20 days.
What The Experts Say On Spotify Technology
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $240.0.
- An analyst from Pivotal Research upgraded its action to Buy with a price target of $265.
- An analyst from Benchmark persists with their Buy rating on Spotify Technology, maintaining a target price of $260.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on Spotify Technology with a target price of $195.
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.
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