Benzinga | Nov 1, 2021 12:07PM EDT

This Is What Whales Are Betting On Spotify Technology

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bullish stance on Spotify Technology (NYSE:SPOT).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 66.67% bullish and 33.33%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $110,933, and 11, calls, for a total amount of $489,290..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $190.0 to $350.0 for Spotify Technology over the last 3 months.

Volume & Open Interest Development

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 $190.0 to $350.0 in the last 30 days.

Spotify Technology Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestSPOT PUT SWEEP BULLISH 01/20/ $240.00 $110.9K 913 46 23SPOT CALL SWEEP BULLISH 06/17/ $350.00 $103.4K 39 151 22SPOT CALL TRADE BULLISH 11/19/ $280.00 $57.3K 737 112 21SPOT CALL SWEEP BEARISH 11/19/ $280.00 $54.0K 737 85 21SPOT CALL TRADE BEARISH 01/20/ $300.00 $52.8K 3.4K 13 23

Where Is Spotify Technology Standing Right Now?

* With a volume of 1,118,477, the price of SPOT is up 3.82% at $300.46.

* RSI indicators hint that the underlying stock may be overbought.

* Next earnings are expected to be released in 93 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.