February 24, 2024

Check Out What Whales Are Doing With SPOT

Someone with a lot of money to spend has taken a bearish 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.

So how do we know what this whale just did?

Today, Benzinga‘s options scanner spotted 10 uncommon options trades for Spotify Technology.

This isn’t normal.

The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $481,953, and 2 are calls, for a total amount of $86,750.

What’s The Price Target?

Taking into …

Full story available on Benzinga.com

Read the entire article here.

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