Deep-pocketed investors have adopted a bullish approach towards Spotify Technology SPOT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SPOT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Spotify Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $104,749, and 6 are calls, amounting to $572,325.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $300.0 for Spotify Technology over the recent three months.
Volume & Open Interest Development
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 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 activity within a strike price range from $65.0 to $300.0 in the last 30 days.
Spotify Technology Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | TRADE | BULLISH | 12/19/25 | $300.00 | $195.5K | 9 | 100 |
| SPOT | CALL | SWEEP | BULLISH | 01/17/25 | $220.00 | $152.8K | 154 | 699 |
| SPOT | CALL | SWEEP | BEARISH | 01/17/25 | $250.00 | $97.8K | 435 | 699 |
| SPOT | PUT | SWEEP | BULLISH | 01/17/25 | $155.00 | $69.0K | 468 | 703 |
| SPOT | CALL | SWEEP | NEUTRAL | 01/17/25 | $220.00 | $52.1K | 154 | 1.2K |
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.
Where Is Spotify Technology Standing Right Now?
- Currently trading with a volume of 652,664, the SPOT's price is down by -0.05%, now at $196.7.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 26 days.
Expert Opinions on Spotify Technology
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $240.0.
- An analyst from Benchmark persists with their Buy rating on Spotify Technology, maintaining a target price of $260.
- An analyst from Pivotal Research has elevated its stance to Buy, setting a new price target at $265.
- 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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