A Closer Look at Spotify Technology's Options Market Dynamics - Spotify Technology (NYSE:SPOT)

Financial giants have made a conspicuous bearish move on Spotify Technology. Our analysis of options history for Spotify Technology (NYSE:SPOT) revealed 9 unusual trades.

Delving into the details, we found 33% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $172,448, and 7 were calls, valued at $815,256.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $330.0 to $410.0 for Spotify Technology over the recent three months.

Analyzing 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 $330.0 to $410.0 in the last 30 days.

Spotify Technology Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
SPOT	CALL	SWEEP	BULLISH	11/15/24	$12.75	$12.7	$12.75	$410.00	$485.7K	1.7K	496
SPOT	CALL	SWEEP	BULLISH	11/15/24	$13.4	$12.35	$13.4	$410.00	$166.1K	1.7K	908
SPOT	PUT	SWEEP	BULLISH	03/21/25	$18.75	$17.7	$17.7	$340.00	$123.9K	114	70
SPOT	PUT	SWEEP	NEUTRAL	12/20/24	$7.2	$6.85	$7.03	$330.00	$48.5K	1.0K	149
SPOT	CALL	SWEEP	BEARISH	11/15/24	$11.85	$11.55	$11.55	$410.00	$47.3K	1.7K	755

About Spotify Technology

Spotify is the leading global music streaming service provider, with over 600 million monthly active users and 250 million paying subscribers, with the latter comprising the firm's premium segment. Most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

Present Market Standing of Spotify Technology

With a trading volume of 582,102, the price of SPOT is up by 0.43%, reaching $383.63.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 21 days from now.

Professional Analyst Ratings for Spotify Technology

4 market experts have recently issued ratings for this stock, with a consensus target price of $402.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Rosenblatt has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $438. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $340. * Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Spotify Technology with a target price of $490. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $340.

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.

SPOTSpotify Technology SA

$459.00-0.22%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.