Financial giants have made a conspicuous bullish move on Spotify Technology. Our analysis of options history for Spotify Technology (NYSE:SPOT) revealed 11 unusual trades.
Delving into the details, we found 72% of traders were bullish, while 9% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $146,795, and 9 were calls, valued at $310,799.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $290.0 to $350.0 for Spotify Technology over the last 3 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 $290.0 to $350.0 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 | PUT | SWEEP | NEUTRAL | 08/16/24 | $22.9 | $22.55 | $22.6 | $320.00 | $113.0K | 169 | 11 |
| SPOT | CALL | SWEEP | BULLISH | 08/23/24 | $16.65 | $15.15 | $16.57 | $325.00 | $44.7K | 3 | 206 |
| SPOT | CALL | SWEEP | BULLISH | 08/23/24 | $17.7 | $15.65 | $16.6 | $325.00 | $38.1K | 3 | 183 |
| SPOT | CALL | TRADE | BULLISH | 07/19/24 | $9.55 | $9.5 | $9.55 | $310.00 | $37.2K | 594 | 14 |
| SPOT | CALL | TRADE | BULLISH | 12/20/24 | $52.15 | $50.65 | $52.15 | $290.00 | $36.5K | 236 | 0 |
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
- Currently trading with a volume of 392,020, the SPOT's price is down by -0.04%, now at $313.57.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 14 days.
What The Experts Say On Spotify Technology
1 market experts have recently issued ratings for this stock, with a consensus target price of $380.0.
- An analyst from B of A Securities persists with their Buy rating on Spotify Technology, maintaining a target price of $380.
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.