Whales with a lot of money to spend have taken a noticeably bearish stance on Uber Technologies.
Looking at options history for Uber Technologies (NYSE:UBER) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $291,792 and 2, calls, for a total amount of $59,000.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $82.5 for Uber Technologies over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Uber Technologies stands at 1026.25, with a total volume reaching 2,660.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Uber Technologies, situated within the strike price corridor from $40.0 to $82.5, throughout the last 30 days.
Uber Technologies Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UBER | PUT | SWEEP | BEARISH | 07/05/24 | $1.54 | $1.49 | $1.54 | $72.00 | $77.0K | 3.0K | 1.7K |
| UBER | PUT | TRADE | BEARISH | 07/05/24 | $0.95 | $0.88 | $0.95 | $72.00 | $55.7K | 3.0K | 86 |
| UBER | PUT | SWEEP | BEARISH | 07/05/24 | $1.1 | $0.99 | $1.05 | $72.00 | $52.5K | 3.0K | 675 |
| UBER | PUT | SWEEP | BULLISH | 07/05/24 | $1.65 | $1.54 | $1.55 | $72.00 | $43.1K | 3.0K | 1.7K |
| UBER | PUT | SWEEP | NEUTRAL | 07/05/24 | $1.55 | $1.54 | $1.54 | $72.00 | $37.1K | 3.0K | 1.7K |
About Uber Technologies
Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers. The firm's on-demand technology platform could eventually be used for additional products and services, such as autonomous vehicles, delivery via drones, and Uber Elevate, which, as the firm refers to it, provides "aerial ride-sharing." Uber Technologies is headquartered in San Francisco and operates in over 63 countries with over 150 million users who order rides or food at least once a month.
Having examined the options trading patterns of Uber Technologies, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Uber Technologies
- Trading volume stands at 1,557,625, with UBER's price down by -2.68%, positioned at $70.73.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 29 days.
What Analysts Are Saying About Uber Technologies
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $91.25.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Uber Technologies, targeting a price of $88.
- An analyst from Citigroup has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $96.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Uber Technologies with a target price of $90.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Uber Technologies, targeting a price of $91.
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.