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 30% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $179,965 and 6, calls, for a total amount of $502,675.
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 $280.0 to $350.0 for Spotify Technology over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Spotify Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Spotify Technology's significant trades, within a strike price range of $280.0 to $350.0, over the past month.
Spotify Technology 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | TRADE | NEUTRAL | 01/17/25 | $61.3 | $59.5 | $60.38 | $280.00 | $307.9K | 461 | 19 |
| SPOT | CALL | TRADE | BULLISH | 07/19/24 | $18.35 | $18.0 | $18.35 | $300.00 | $80.7K | 467 | 2 |
| SPOT | PUT | SWEEP | BEARISH | 10/18/24 | $33.7 | $33.7 | $33.7 | $320.00 | $64.0K | 113 | 21 |
| SPOT | PUT | SWEEP | BEARISH | 10/18/24 | $33.85 | $33.7 | $33.85 | $320.00 | $47.3K | 113 | 41 |
| SPOT | PUT | SWEEP | BEARISH | 10/18/24 | $27.85 | $27.55 | $27.85 | $310.00 | $41.7K | 48 | 12 |
About Spotify Technology
Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. 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 86% and 14% of Spotify's 2023 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.
Spotify Technology's Current Market Status
- Currently trading with a volume of 507,511, the SPOT's price is down by -1.3%, now at $307.17.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 35 days.
What The Experts Say On Spotify Technology
2 market experts have recently issued ratings for this stock, with a consensus target price of $385.5.
- Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Spotify Technology with a target price of $396.
- An analyst from JP Morgan persists with their Overweight rating on Spotify Technology, maintaining a target price of $375.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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