Deep-pocketed investors have adopted a bearish approach towards Uber Technologies UBER, 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 UBER usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 35 extraordinary options activities for Uber Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 54% bearish. Among these notable options, 13 are puts, totaling $1,162,237, and 22 are calls, amounting to $1,358,948.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $95.0 for Uber Technologies over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Uber Technologies options trades today is 3111.24 with a total volume of 9,691.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Uber Technologies's big money trades within a strike price range of $40.0 to $95.0 over the last 30 days.
Uber Technologies Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UBER | PUT | TRADE | BEARISH | 05/17/24 | $1.7 | $1.58 | $1.7 | $67.50 | $241.4K | 12.4K | 1.2K |
| UBER | PUT | TRADE | BULLISH | 12/20/24 | $7.35 | $7.25 | $7.15 | $67.50 | $214.5K | 388 | 317 |
| UBER | PUT | SWEEP | BULLISH | 05/17/24 | $1.3 | $1.22 | $1.25 | $67.50 | $121.3K | 12.4K | 136 |
| UBER | CALL | SWEEP | BEARISH | 09/20/24 | $5.05 | $4.95 | $5.0 | $70.00 | $106.5K | 1.9K | 234 |
| UBER | PUT | SWEEP | BULLISH | 12/18/26 | $17.05 | $15.05 | $15.05 | $70.00 | $103.6K | 1.6K | 0 |
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
Current Position of Uber Technologies
- With a volume of 12,118,099, the price of UBER is down -0.18% at $67.81.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 81 days.
Professional Analyst Ratings for Uber Technologies
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $89.8.
- Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on Uber Technologies with a target price of $81.
- An analyst from Needham downgraded its action to Buy with a price target of $90.
- An analyst from Oppenheimer persists with their Outperform rating on Uber Technologies, maintaining a target price of $90.
- Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Uber Technologies, targeting a price of $100.
- An analyst from TD Cowen persists with their Buy rating on Uber Technologies, maintaining a target price of $88.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
