A high-rolling investor has positioned themselves bullish 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 identity of this investor is uncertain, but such a significant move in UBER often signals that someone has privileged information. Today, Benzinga's options scanner spotted 12 options trades for Uber Technologies. This is not a typical pattern. The sentiment among these major traders is split, with 58% bullish and 41% bearish. Among all the options we identified, there was one put, amounting to $33,000, and 11 calls, totaling $551,802.
Expected Price Movements
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.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Uber Technologies stands at 11908.11, with a total volume reaching 2,152.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Uber Technologies, situated within the strike price corridor from $25.0 to $60.0, throughout the last 30 days.
Uber Technologies Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UBER | CALL | SWEEP | BEARISH | 01/19/24 | $45.00 | $117.3K | 14.9K | 26 |
| UBER | CALL | SWEEP | BULLISH | 01/19/24 | $32.50 | $103.2K | 26.6K | 106 |
| UBER | CALL | SWEEP | BEARISH | 11/17/23 | $45.00 | $51.0K | 21.7K | 12 |
| UBER | CALL | TRADE | BULLISH | 01/19/24 | $52.50 | $42.5K | 25.5K | 1 |
| UBER | CALL | SWEEP | BULLISH | 01/19/24 | $32.50 | $40.9K | 26.6K | 33 |
Uber Technologies's Current Market Status
- With a volume of 4,985,245, the price of UBER is up 0.12% at $49.98.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 91 days.
Expert Opinions on Uber Technologies:
- Consistent in their evaluation, Wells Fargo keeps a Overweight rating on Uber Technologies with a target price of $64.
- Keybanc persists with their Overweight rating on Uber Technologies, maintaining a target price of $61.
- Reflecting concerns, Seaport Global lowers its rating to Buy with a new price target of $51.
- Showing optimism, Keybanc upgrades its rating to Overweight with a revised price target of $60.
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 Uber Technologies, 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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