Looking At Spotify Technology’s Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Spotify Technology SPOT.

And retail traders should know.

We noticed this today when the positions 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 SPOT, it often means somebody knows something is about to happen.

Today, Benzinga’s options scanner spotted 12 options trades for Spotify Technology.

This isn’t normal.

The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $41,945, and 11, calls, for a total amount of $416,620.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $105.0 and $500.0 for Spotify Technology, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 39.0 with a total volume of 65.00.

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 $105.0 to $500.0 over the last 30 days.

Spotify Technology Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

In light of the recent options history for Spotify Technology, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Spotify Technology

• With a trading volume of 1,016,422, the price of SPOT is up by 1.15%, reaching $482.38.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 54 days from now.

What Analysts Are Saying About Spotify Technology

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $500.0.

Turn $1000 into $1270 in just 20 days?

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. * An analyst from Macquarie persists with their Outperform rating on Spotify Technology, maintaining a target price of $500. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Spotify Technology with a target price of $475. * An analyst from Phillip Securities downgraded its action to Accumulate with a price target of $485. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Spotify Technology with a target price of $515. * An analyst from Canaccord Genuity persists with their Buy rating on Spotify Technology, maintaining a target price of $525.

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.