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 8 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 25% leaning bullish and 75% bearish. Among these notable options, 3 are puts, totaling $630,465, and 5 are calls, amounting to $374,155.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $95.0 for Uber Technologies over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Uber Technologies stands at 4745.0, with a total volume reaching 1,488.00. 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 $30.0 to $95.0, throughout the last 30 days.
Uber Technologies Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UBER | PUT | SWEEP | BEARISH | 04/19/24 | $77.50 | $284.3K | 4.2K | 809 |
| UBER | PUT | SWEEP | BEARISH | 04/19/24 | $80.00 | $252.5K | 1.7K | 503 |
| UBER | CALL | TRADE | BEARISH | 12/18/26 | $75.00 | $131.2K | 241 | 50 |
| UBER | CALL | TRADE | NEUTRAL | 01/17/25 | $30.00 | $99.2K | 7.7K | 0 |
| UBER | PUT | SWEEP | BULLISH | 12/20/24 | $95.00 | $93.6K | 925 | 3 |
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.
Following our analysis of the options activities associated with Uber Technologies, we pivot to a closer look at the company's own performance.
Where Is Uber Technologies Standing Right Now?
- Currently trading with a volume of 1,137,270, the UBER's price is up by 0.47%, now at $79.07.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 50 days.
Professional Analyst Ratings for Uber Technologies
In the last month, 5 experts released ratings on this stock with an average target price of $89.6.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Uber Technologies, targeting a price of $91.
- An analyst from Needham downgraded its action to Buy with a price target of $90.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $85.
- An analyst from Truist Securities downgraded its action to Buy with a price target of $90.
- An analyst from BMO Capital persists with their Outperform rating on Uber Technologies, maintaining a target price of $92.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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