Deep-pocketed investors have adopted a bearish approach towards Spotify Technology ( 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 100 extraordinary options activities for Spotify Technology ( SPOT ). This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 21% leaning bullish and 56% bearish. Among these notable options, 25 are puts, totaling $2,790,112, and 75 are calls, amounting to $4,009,401.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $330.0 and $860.0 for Spotify Technology ( SPOT ), spanning the last three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Spotify Technology's ( SPOT ) options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Spotify Technology's ( SPOT ) substantial trades, within a strike price spectrum from $330.0 to $860.0 over the preceding 30 days.

Spotify Technology Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Spotify Technology

Spotify ( SPOT ) is the leading global music streaming service provider, with nearly 700 million monthly active users and over 250 million paying subscribers, with the latter constituting the firm's premium segment. Most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

Following our analysis of the options activities associated with Spotify Technology ( SPOT ), we pivot to a closer look at the company's own performance.

Present Market Standing of Spotify Technology

With a trading volume of 1,224,546, the price of SPOT is down by -3.39%, reaching $680.25.

Current RSI values indicate that the stock is is currently neutral between overbought and oversold.

Next earnings report is scheduled for 61 days from now.

What Analysts Are Saying About Spotify Technology

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $818.75.

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* Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Spotify Technology ( SPOT ) with a target price of $825.

* Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Spotify Technology ( SPOT ), targeting a price of $750.

* An analyst from Guggenheim persists with their Buy rating on Spotify Technology ( SPOT ), maintaining a target price of $850.

* Reflecting concerns, an analyst from Guggenheim lowers its rating to Buy with a new price target of $850.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Spotify Technology ( SPOT ) options trades with real-time alerts from Benzinga Pro.