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 18 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 38% leaning bullish and 55% bearish. Among these notable options, 8 are puts, totaling $724,218, and 10 are calls, amounting to $453,840.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $85.0 for Uber Technologies during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Uber Technologies's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Uber Technologies's substantial trades, within a strike price spectrum from $30.0 to $85.0 over the preceding 30 days.
Uber Technologies Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UBER | PUT | SWEEP | BULLISH | 12/20/24 | $10.5 | $10.35 | $10.4 | $80.00 | $206.9K | 951 | 200 |
| UBER | PUT | SWEEP | BULLISH | 03/21/25 | $16.25 | $16.15 | $16.15 | $85.00 | $198.6K | 32 | 124 |
| UBER | CALL | TRADE | BEARISH | 01/16/26 | $43.25 | $43.0 | $43.0 | $30.00 | $129.0K | 84 | 30 |
| UBER | PUT | SWEEP | BULLISH | 12/20/24 | $10.5 | $10.4 | $10.4 | $80.00 | $72.8K | 951 | 271 |
| UBER | PUT | TRADE | BEARISH | 12/20/24 | $7.25 | $7.2 | $7.25 | $72.50 | $72.5K | 4.0K | 100 |
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.
After a thorough review of the options trading surrounding Uber Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Uber Technologies
- Currently trading with a volume of 5,029,466, the UBER's price is down by -3.24%, now at $68.94.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 60 days.
Professional Analyst Ratings for Uber Technologies
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $87.5.
- Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for Uber Technologies, targeting a price of $84.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $90.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Uber Technologies with a target price of $88.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Uber Technologies with a target price of $88.
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 Uber Technologies, 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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