Spotlight on Spotify Technology: Analyzing the Surge in Options Activity
Investors with a lot of money to spend have taken a bearish stance on Spotify Technology SPOT.
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 SPOT, 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 Spotify Technology.
This isn’t normal.
The overall sentiment of these big-money traders is split between 27% bullish and 54%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $312,552, and 4 are calls, for a total amount of $198,826.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $500.0 for Spotify Technology during the past quarter.
Analyzing 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 Spotify Technology’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 Spotify Technology’s whale trades within a strike price range from $270.0 to $500.0 in the last 30 days.
Spotify Technology Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | SWEEP | BULLISH | 11/15/24 | $27.65 | $27.1 | $27.65 | $360.00 | $102.3K | 4 | 45 |
| SPOT | PUT | SWEEP | BEARISH | 03/21/25 | $18.5 | $18.3 | $18.5 | $320.00 | $70.3K | 138 | 38 |
| SPOT | PUT | SWEEP | BEARISH | 11/15/24 | $32.2 | $31.65 | $32.15 | $380.00 | $48.2K | 2 | 75 |
| SPOT | PUT | SWEEP | BULLISH | 10/18/24 | $14.55 | $14.4 | $14.4 | $370.00 | $43.2K | 125 | 34 |
| SPOT | PUT | SWEEP | BEARISH | 11/15/24 | $32.3 | $31.6 | $32.25 | $380.00 | $41.9K | 2 | 30 |
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.
Present Market Standing of Spotify Technology
- With a volume of 826,486, the price of SPOT is up 1.52% at $365.69.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 32 days.
What Analysts Are Saying About Spotify Technology
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $437.5.
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 Evercore ISI Group keeps a Outperform rating on Spotify Technology with a target price of $460.
* Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Spotify Technology with a target price of $440.
* Maintaining their stance, an analyst from Pivotal Research continues to hold a Buy rating for Spotify Technology, targeting a price of $510.
* Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $340.
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 Spotify Technology options trades with real-time alerts from Benzinga Pro.
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