Benzinga | Nov 17, 2021 12:11PM EST

Check Out What Whales Are Doing With SPOT

A whale with a lot of money to spend has taken a noticeably bearish stance on Spotify Technology.

Looking at options history for Spotify Technology (NYSE:SPOT) we detected 15 strange trades.

If we consider the specifics of each trade, it is accurate to state that 46.67% of the investors opened trades with bullish expectations and 53.33% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $122,020 and 11, calls, for a total amount of $3,010,253.

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 $195.0 to $320.0 for Spotify Technology over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $195.0 to $320.0 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 CALL SWEEP BULLISH 06/17/ $300.00 $711.3K 165 392 22SPOT CALL TRADE BEARISH 06/17/ $290.00 $448.9K 80 200 22SPOT CALL TRADE BULLISH 01/21/ $230.00 $428.0K 2.1K 500 22SPOT CALL TRADE BULLISH 01/21/ $230.00 $425.7K 2.1K 200 22SPOT CALL SWEEP BEARISH 01/21/ $230.00 $361.4K 2.1K 600 22

Where Is Spotify Technology Standing Right Now?

* With a volume of 386,917, the price of SPOT is down -1.31% at $267.75.

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

* Next earnings are expected to be released in 77 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.