What the Options Market Tells Us About Spotify Technology

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Whales with a lot of money to spend have taken a noticeably bullish stance on Spotify Technology.

Looking at options history for Spotify Technology SPOT we detected 27 trades.

If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 18% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $457,440 and 19, calls, for a total amount of $574,733.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $330.0 for Spotify Technology, spanning the last three months.

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 $200.0 to $330.0 in the last 30 days.

Spotify Technology Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
SPOT PUT TRADE BULLISH 09/20/24 $27.55 $27.05 $27.05 $320.00 $132.5K 121 0
SPOT PUT TRADE BULLISH 09/20/24 $27.45 $27.0 $27.0 $320.00 $81.0K 121 0
SPOT PUT SWEEP BULLISH 01/17/25 $5.15 $4.55 $4.55 $210.00 $63.7K 162 151
SPOT PUT SWEEP BULLISH 01/17/25 $5.15 $4.55 $4.55 $210.00 $59.6K 162 151
SPOT CALL SWEEP BULLISH 07/05/24 $4.1 $4.0 $4.1 $325.00 $45.7K 305 2.9K

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.

Following our analysis of the options activities associated with Spotify Technology, we pivot to a closer look at the company's own performance.

Where Is Spotify Technology Standing Right Now?

  • With a volume of 441,173, the price of SPOT is down -0.16% at $317.25.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 29 days.

What Analysts Are Saying About Spotify Technology

In the last month, 2 experts released ratings on this stock with an average target price of $385.5.

  • Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Spotify Technology, targeting a price of $396.
  • An analyst from JP Morgan has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $375.

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.

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Posted In: OptionsMarketsBZI-UOA
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