Investors with a lot of money to spend have taken a bullish stance on Sphere Entertainment (NYSE:SPHR).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SPHR, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 17 uncommon options trades for Sphere Entertainment.
This isn't normal.
The overall sentiment of these big-money traders is split between 41% bullish and 41%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $278,300, and 15 are calls, for a total amount of $722,807.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.5 to $70.0 for Sphere Entertainment over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Sphere Entertainment stands at 1473.3, with a total volume reaching 6,090.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sphere Entertainment, situated within the strike price corridor from $47.5 to $70.0, throughout the last 30 days.
Sphere Entertainment 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPHR | PUT | TRADE | BULLISH | 10/17/25 | $3.4 | $3.1 | $3.2 | $57.50 | $160.0K | 11 | 505 |
| SPHR | PUT | SWEEP | BEARISH | 01/16/26 | $6.5 | $6.2 | $6.5 | $57.50 | $118.3K | 11 | 183 |
| SPHR | CALL | SWEEP | NEUTRAL | 09/19/25 | $10.2 | $9.9 | $10.23 | $50.00 | $89.4K | 2.8K | 327 |
| SPHR | CALL | SWEEP | BEARISH | 09/19/25 | $13.6 | $12.9 | $13.03 | $47.50 | $65.1K | 1.1K | 51 |
| SPHR | CALL | SWEEP | BULLISH | 01/16/26 | $5.9 | $5.3 | $5.8 | $70.00 | $57.8K | 1.4K | 0 |
About Sphere Entertainment
Sphere Entertainment Co is a live entertainment and media company. The firm creates, writes, casts, produces, and tours shows and events. The group has two reportable segments which includeSphere and MSG Networks. Sphere is a next-generation entertainment medium, and MSG Networks operates two regional sports and entertainment networks, as well as a direct-to-consumer (DTC) and authenticated streaming product.
Sphere Entertainment's Current Market Status
- Trading volume stands at 845,733, with SPHR's price up by 2.86%, positioned at $60.0.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 57 days.
Professional Analyst Ratings for Sphere Entertainment
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $76.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Guggenheim keeps a Buy rating on Sphere Entertainment with a target price of $76.
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 Sphere Entertainment options trades with real-time alerts from Benzinga Pro.
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