Big investors with big money to spend are clearly bullish on Spotify Technology.
We looked at the options history for Spotify Technology SPOT and found 27 trades.
Considering the details of each trade, it is accurate to state that 48% of investors began trading with bullish expectations and 18% began trading with bearish expectations.
Of the total spot trades, there were eight puts totaling $457,440 and 19 calls totaling $574,733.
Estimated Price Target
After evaluating the trading volume and open interest, it becomes clear that key market watchers have been keeping an eye on Spotify Technology’s price range between $200.0 and $330.0 over the past three months.
Insights into trading volumes and open interest
Looking at trading volume and open interest is a useful way to conduct due diligence on a stock.
This data helps track liquidity and interest in Spotify Technology options at specific strike prices.
Below you can see all the whale activity for Spotify Technology over the past 30 days, along with the trading volume and open interest for each of the calls and puts with strike prices between $200.0 and $330.0.
Spotify Technology Options Activity Analysis: Last 30 Days
The biggest options found are:
Symbol PUT/CALL Trade Type Sentiment Exp. Date Sell Buy Price Strike Total Trade Price Open Interest Volume Spot Put Trades Bullish 09/20/24 $27.55 $27.05 $27.05 $320.00 $132.5K 121 0 Spot Put Trades Bullish 09/20/24 $27.45 $27.0 $27.0 $320.00 $81.0K 121 0 Spot Put Sweep Bullish 01/17/25 $5.15 $4.55 $4.55 $210.00 $63.7K 162 151 Spot Put Sweep Bullish 01/17/25 $5.15 $4.55 $4.55 $210.00 $59.6K 162 151 Spot Call Sweep Bullish 07/05/24 $4.1 $4.0 $4.1 $325.00 $45.7K 305 2.9K
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 as of the end of 2023. The company generates revenue from users through a paid subscription model called Premium Services and an advertising-based model called Ad-Supported Services. Revenues from Premium Services and Ad-Supported Services accounted for 86% and 14%, respectively, of Spotify’s total revenue in 2023.
Following our analysis of options trades related to Spotify Technology, we will take a closer look at the company’s own performance.
Where does Spotify technology stand now?
On a trading volume of 441,173, SPOT price is down -0.16% to $317.25. The RSI indicator suggests that the underlying stock may be approaching overbought status. The next earnings are due to be released in 29 days.
Analysts’ thoughts on Spotify technology
Last month, two experts published ratings on the stock with an average target price of $385.5.
Analysts at Rosenblatt have maintained their stance, maintaining a Buy rating on Spotify Technology with a price target of $396. Analysts at JP Morgan have decided to maintain an Overweight rating on Spotify Technology with a current price target of $375.
Options trading carries significant risks, but it also carries the potential for significant rewards. Smart traders mitigate these risks through ongoing education, strategic trade adjustments, utilization of various indicators and staying tuned to market trends. Follow Spotify Technology’s latest options trades with real-time alerts on Benzinga Pro.
