Market Whales and Their Recent Bets on SPOT Options

Deep-pocketed investors have adopted a bearish approach towards Spotify Technology SPOT, 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 SPOT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Spotify Technology. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 45% leaning bullish and 54% bearish. Among these notable options, 6 are puts, totaling $200,005, and 5 are calls, amounting to $247,400.

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 $220.0 to $260.0 for Spotify Technology during the past quarter.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $220.0 to $260.0 in the last 30 days.

Spotify Technology Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Spotify Technology

Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with 602 million total listeners. 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.

Having examined the options trading patterns of Spotify Technology, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Spotify Technology's Current Market Status

• Currently trading with a volume of 454,011, the SPOT's price is up by 0.8%, now at $239.9.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 69 days.

What Analysts Are Saying About Spotify Technology

In the last month, 5 experts released ratings on this stock with an average target price of $288.0.

• Consistent in their evaluation, an analyst from Benchmark keeps a Buy rating on Spotify Technology with a target price of $290.
• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $300.
• An analyst from Macquarie has revised its rating downward to Outperform, adjusting the price target to $300.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $270.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $280.

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.