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Wealthy investors are taking a bearish approach to Spotify Technology (NYSE:SPOT), and market players shouldn't ignore it. The important move was revealed today after tracking Benzinga's public option records. Although the identities of these investors remain unknown, such significant movements in SPOT usually signal that something big is about to happen.
We gathered this information from today's observations. That's when Benzinga's Options Her scanner revealed 11 unusual options activity for his Spotify technology. This level of activity is unusual.
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The overall mood of these leading investors is split, with 45% bullish and 54% bearish. Of these notable options, his seven puts total $295,383, and his four calls total $177,030.
Expected price range
Analyzing the volume and open interest of these contracts, it appears that major players are focusing on the Spotify Technology price range from $230.0 to $290.0 over the past quarter.
Trends in trading volume and open interest
Examining volume and open interest can provide important insights into stock research. This information is important in evaluating the liquidity and level of interest in Spotify Technology's options at a particular strike price. Below is a snapshot of call and put volume and open interest trends across Spotify Technology's significant trades within the $230.0 to $290.0 strike price range over the past month.
Spotify Technology Call and Put Volume: 30 Day Overview
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Biggest options found:
| symbol | put/call | transaction type | emotion | Experience date | listen | bid | price | strike price | Total transaction price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| spot | put | sweep | bearish | 2024/06/21 | $24.05 | $23.9 | $24.05 | $270.00 | $74.5,000 | 313 | 55 |
| spot | phone | trade | strong | 05/17/24 | $35.6 | $33.9 | $35.6 | $240.00 | 71.2 thousand dollars | 550 | 20 |
| spot | put | trade | strong | 04/05/24 | $6.0 | $4.5 | $4.5 | $267.50 | 45.0 thousand dollars | 373 | 100 |
| spot | phone | trade | bearish | 10/18/24 | $25.1 | $24.6 | $24.75 | $290.00 | 42.0 thousand dollars | 2 | 81 |
| spot | put | sweep | bearish | 2024/06/21 | $6.75 | $6.65 | $6.65 | $230.00 | $38.5,000 | 294 | 103 |
About Spotify Technology
Headquartered in Stockholm, Sweden, Spotify is one of the world's largest music streaming service providers, with 602 million monthly active users at the end of 2023. The company monetizes its users through a paid subscription model called Premium Services. Advertisement-based model. It is called an ad-supported service. Revenue from premium services and ad-supported services accounted for 86% and 14% of Spotify's total 2023 revenue, respectively.
Now that we've looked at Spotify Technology's options trading patterns, it's time to take a look at the company directly. This change allows us to take a closer look at our current market position and performance.
What is the current state of Spotify technology?
- On volume of 1,082,579, SPOT price is up 0.97% at $266.45.
- The RSI indicator suggests that the underlying stock may be approaching overbought status.
- The next financial results are expected to be announced within the 22nd.
Expert opinion on Spotify technology
Last month, 1 experts issued their ratings for this stock, with an average price target of $315.0.
- Analysts at B of A Securities maintained a Buy rating on Spotify Technology and a $315 price target.
Options trading involves higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and paying attention to market movements. Stay up to date on the latest Spotify Technology options trades with real-time alerts from Benzinga Pro.
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