Deep-pocketed investors have adopted a bullish approach towards Spotify Technology (NYSE:SPOT), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SPOT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Spotify Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 22% bearish. Among these notable options, 5 are puts, totaling $180,490, and 13 are calls, amounting to $1,387,394.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $210.0 to $360.0 for Spotify Technology over the recent three 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 $210.0 to $360.0 in the last 30 days.
Spotify Technology Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPOT | CALL | TRADE | BULLISH | 10/18/24 | $15.35 | $14.8 | $15.35 | $340.00 | $767.5K | 730 | 537 |
| SPOT | CALL | TRADE | NEUTRAL | 01/17/25 | $129.4 | $127.05 | $128.07 | $210.00 | $102.4K | 275 | 21 |
| SPOT | CALL | TRADE | BEARISH | 01/17/25 | $129.55 | $127.05 | $128.02 | $210.00 | $102.4K | 275 | 13 |
| SPOT | CALL | TRADE | BEARISH | 01/17/25 | $129.55 | $127.05 | $128.0 | $210.00 | $64.0K | 275 | 5 |
| SPOT | PUT | SWEEP | BULLISH | 03/21/25 | $40.6 | $40.5 | $40.5 | $340.00 | $60.7K | 23 | 16 |
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.
Following our analysis of the options activities associated with Spotify Technology, we pivot to a closer look at the company's own performance.
Present Market Standing of Spotify Technology
- Currently trading with a volume of 825,565, the SPOT's price is up by 0.2%, now at $329.25.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 48 days.
Expert Opinions on Spotify Technology
In the last month, 1 experts released ratings on this stock with an average target price of $460.0.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Spotify Technology, targeting a price of $460.
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.