Decoding Uber Technologies's Options Activity: What's the Big Picture?

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 16 uncommon options trades for Uber Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 56% bullish and 37%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $161,516, and 13 are calls, for a total amount of $758,253.

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 $55.0 to $80.0 for Uber Technologies over the last 3 months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Uber Technologies stands at 2393.91, with a total volume reaching 3,399.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Uber Technologies, situated within the strike price corridor from $55.0 to $80.0, throughout the last 30 days.

Uber Technologies 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

In light of the recent options history for Uber Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Uber Technologies

• With a volume of 2,889,715, the price of UBER is up 0.18% at $74.07.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 43 days.

What Analysts Are Saying About Uber Technologies

In the last month, 5 experts released ratings on this stock with an average target price of $89.8.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * 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 Loop Capital keeps a Buy rating on Uber Technologies with a target price of $84. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $90. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Uber Technologies, which currently sits at a price target of $97. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $90.

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.