April 22, 2024 12:31 PM | 2 minute read |
Would you like to earn 27% every 20 days?
This is the average value of Nic Chahine's option purchases. Don't sell covered calls or spreads…buy options. Most traders don't even have a 27% buy option win rate. His win rate is 83%. Here's how he does it.
Financial giants have shown notable bearishness towards Spotify technology. An analysis of Spotify Technology (NYSE:SPOT)'s options history reveals 63 unusual trades.
Digging deeper, we found that 34% of traders are bullish while 52% are bearish. Of all the trades we found, 37 were puts with a value of $2,959,985 and 26 were calls with a value of $1,728,922.
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Expected price target
Considering the volume and open interest of these contracts, over the past three months, Whale appears to have priced Spotify Technology in the range of $180.0 to $370.0.
Analysis of trading volume and open interest
Confirming volume and open interest is a powerful move in options trading. This data helps track the liquidity and interest in Spotify Technology options for a particular strike price. Below you can observe the evolution of call and put volume and open interest, respectively, for all Spotify Technology whale trades within the strike price range of $180.0 to $370.0 over the past 30 days.
Spotify Technology Call and Put Volume: 30 Day Overview
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Largest options trade observed:
| symbol | put/call | transaction type | emotions | Experience date | listen | bid | price | strike price | Total transaction price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| spot | phone | sweep | bearish | 24/04/26 | $11.6 | $11.55 | $11.55 | $275.00 | $346.5,000 | 93 | 890 |
| spot | put | trade | neutral | 24/04/26 | $5.25 | $4.8 | $5.0 | $250.00 | $250,000 | 476 | 567 |
| spot | put | sweep | bearish | 09/20/24 | $102.95 | $102.95 | $102.95 | $370.00 | $205.9,000 | 3 | 20 |
| spot | put | sweep | neutral | 24/04/26 | $6.0 | $5.95 | $6.0 | $250.00 | $152.5,000 | 476 | 1.6K |
| spot | put | trade | bearish | 01/17/25 | $18.75 | $18.0 | $18.75 | $230.00 | $150,000 | 880 | 80 |
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.
Where is Spotify technology now?
- With a trading volume of 2,185,455, SPOT price is down -1.96% and sits at $270.42.
- The RSI indicator indicates that the stock may be approaching overbought status.
- The financial results are expected to be announced within a day.
What analysts are saying about Spotify technology
Last month, 5 experts issued their ratings for this stock, with an average price target of $317.0.
- Canaccord Genuity's analysts have decided to maintain a Buy rating on Spotify Technology, with a current price target of $330.
- Analysts at Loop Capital maintain their stance on Spotify Technology with a Hold rating and a $250 price tag.
- Consistent with that assessment, Deutsche Bank analysts maintain a Buy rating on Spotify Technology with a price target of $340.
- Barclays analysts have decided to maintain an Overweight rating on Spotify Technology, with the price target currently set at $335.
- Macquarie analysts maintain their stance on Spotify Technology with an Outperform rating and a price of $330.
Options trading involves higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and closely observing market movements. Stay up to date on the latest Spotify Technology options trades with real-time alerts from Benzinga Pro.
Would you like to earn 27% every 20 days?
This is the average value of Nic Chahine's option purchases. Don't sell covered calls or spreads…buy options. Most traders don't even have a 27% buy option win rate. His win rate is 83%. Here's how he does it.
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