Investors with a lot of money to spend have taken a bearish stance on Uber Technologies (NYSE: UBER).
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with UBER, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 67 uncommon options trades for Uber Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 11% bullish and 70%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $79,060, and 65 are calls, for a total amount of $4,068,416.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $100.0 for Uber Technologies over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Uber Technologies stands at 1657.14, with a total volume reaching 10,812.00. 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 $30.0 to $100.0, throughout the last 30 days.
Uber Technologies 30-Day Option Volume & Interest Snapshot
!Options Call Chart
Significant Options Trades Detected:
SymbolPUT/CALLTrade TypeSentimentExp. DateAskBidPriceStrike PriceTotal Trade PriceOpen InterestVolumeUBERCALLTRADEBEARISH01/21/28$57.15$55.4$55.4$42.50$271.4K271UBERCALLTRADEBEARISH01/21/28$57.15$55.3$55.26$42.50$270.7K271UBERCALLTRADEBEARISH01/21/28$27.95$26.05$26.43$87.50$153.2K46139UBERCALLTRADEBEARISH01/21/28$53.35$51.1$51.86$47.50$129.6K1590UBERCALLTRADEBEARISH01/21/28$29.2$27.25$27.8$85.00$119.5K51093
About Uber Technologies
Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food couriers, and shippers with carriers. The firm's on-demand technology platform is currently utilized by traditional cars as well as autonomous vehicles, but could eventually be used for additional products and services, such as delivery via drones or electronic vehicle take-off and landing (eVTOL) technology. Uber operates in over 70 countries, with over 180 million users who order rides or food at least once a month.
Following our analysis of the options activities associated with Uber Technologies, we pivot to a closer look at the company's own performance.
Where Is Uber Technologies Standing Right Now?
- Trading volume stands at 4,598,971, with UBER's price up by 1.08%, positioned at $91.97.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 61 days.
What Analysts Are Saying About Uber Technologies
1 market experts have recently issued ratings for this stock, with a consensus target price of $125.0.
Unusual Options Activity Detected: Smart Money on the Move
\\* Showing optimism, an analyst from Arete Research upgrades its rating to Buy with a revised price target of $125.