Behind the Scenes of Spotify Technology's Latest Options Trends

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 13 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 38% leaning bullish and 61% bearish. Among these notable options, 9 are puts, totaling $357,778, and 4 are calls, amounting to $141,630.

Latest Startup Investment Opportunities:

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $310.0 for Spotify Technology during the past quarter.

Volume & Open Interest Development

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 $200.0 to $310.0 in the last 30 days.

Spotify Technology 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Where Is Spotify Technology Standing Right Now?

• With a trading volume of 587,270, the price of SPOT is down by -0.01%, reaching $268.0.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 47 days from now.

What Analysts Are Saying About Spotify Technology

In the last month, 5 experts released ratings on this stock with an average target price of $307.0.

• Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Spotify Technology with a target price of $300.
• An analyst from Rosenblatt persists with their Buy rating on Spotify Technology, maintaining a target price of $315.
• Consistent in their evaluation, an analyst from Pivotal Research keeps a Buy rating on Spotify Technology with a target price of $330.
• Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Spotify Technology, targeting a price of $290.
• In a cautious move, an analyst from Macquarie downgraded its rating to Outperform, setting a price target of $300.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spotify Technology with Benzinga Pro for real-time alerts.