Financial giants have made a conspicuous bearish move on Spotify Technology. Our analysis of options history for Spotify Technology SPOT revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $1,553,580, and 6 were calls, valued at $234,695.
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 $270.0 to $300.0 for Spotify Technology during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 352.0 with a total volume of 695.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Spotify Technology's big money trades within a strike price range of $270.0 to $300.0 over the last 30 days.
Spotify Technology Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | PUT | TRADE | NEUTRAL | 10/18/24 | $30.4 | $29.05 | $29.8 | $300.00 | $1.4M | 141 | 500 |
| SPOT | CALL | TRADE | BEARISH | 06/21/24 | $14.85 | $14.2 | $14.45 | $300.00 | $72.2K | 995 | 65 |
| SPOT | PUT | TRADE | BULLISH | 01/17/25 | $37.95 | $37.4 | $37.4 | $300.00 | $63.5K | 70 | 0 |
| SPOT | CALL | SWEEP | BULLISH | 05/03/24 | $8.9 | $7.2 | $8.4 | $290.00 | $42.0K | 686 | 90 |
| SPOT | CALL | SWEEP | BEARISH | 05/03/24 | $3.8 | $1.99 | $2.5 | $292.50 | $37.5K | 127 | 31 |
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.
After a thorough review of the options trading surrounding Spotify Technology, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Spotify Technology's Current Market Status
- Trading volume stands at 534,691, with SPOT's price up by 1.16%, positioned at $297.59.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 81 days.
Expert Opinions on Spotify Technology
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $326.4.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Spotify Technology, targeting a price of $350.
- An analyst from HSBC persists with their Buy rating on Spotify Technology, maintaining a target price of $355.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on Spotify Technology, which currently sits at a price target of $277.
- An analyst from Piper Sandler has revised its rating downward to Neutral, adjusting the price target to $320.
- An analyst from Canaccord Genuity persists with their Buy rating on Spotify Technology, maintaining a target price of $330.
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.
© 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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