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 10 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $99,027 and 8, calls, for a total amount of $1,128,327.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $165.0 and $250.0 for Spotify Technology, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Spotify Technology stands at 420.22, with a total volume reaching 259.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Spotify Technology, situated within the strike price corridor from $165.0 to $250.0, throughout the last 30 days.
Spotify Technology Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | TRADE | BULLISH | 09/20/24 | $200.00 | $793.4K | 481 | 0 |
| SPOT | CALL | SWEEP | BEARISH | 01/17/25 | $200.00 | $124.7K | 504 | 0 |
| SPOT | PUT | SWEEP | BULLISH | 01/19/24 | $185.00 | $68.8K | 179 | 0 |
| SPOT | CALL | SWEEP | BEARISH | 04/19/24 | $165.00 | $44.6K | 354 | 31 |
| SPOT | CALL | SWEEP | BULLISH | 04/19/24 | $180.00 | $42.9K | 714 | 10 |
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.
After a thorough review of the options trading surrounding Spotify Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Spotify Technology Standing Right Now?
- Currently trading with a volume of 481,909, the SPOT's price is up by 0.46%, now at $179.5.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 69 days.
What Analysts Are Saying About Spotify Technology
In the last month, 5 experts released ratings on this stock with an average target price of $198.2.
- An analyst from Barclays persists with their Overweight rating on Spotify Technology, maintaining a target price of $186.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $210.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Spotify Technology, targeting a price of $205.
- An analyst from Truist Securities has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $190.
- An analyst from Morgan Stanley persists with their Overweight rating on Spotify Technology, maintaining a target price of $200.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Spotify Technology options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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