A Closer Look at Uber Technologies's Options Market Dynamics

Investors with a lot of money to spend have taken a bullish stance on Uber Technologies UBER.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with UBER, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Uber Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $464,306, and 7 are calls, for a total amount of $564,060.

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 $62.5 to $90.0 for Uber Technologies over the last 3 months.

Insights into 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 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 trades within a strike price range from $62.5 to $90.0 in the last 30 days.

Uber Technologies 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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 150 million users who order rides or food at least once a month.

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

Where Is Uber Technologies Standing Right Now?

• Trading volume stands at 4,072,390, with UBER's price down by -0.46%, positioned at $77.75.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 33 days.

What Analysts Are Saying About Uber Technologies

4 market experts have recently issued ratings for this stock, with a consensus target price of $91.5.

• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Uber Technologies with a target price of $94.
• Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $85.
• An analyst from Argus Research has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $95.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Uber Technologies, targeting a price of $92.

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 Uber Technologies options trades with real-time alerts from Benzinga Pro.