Market Whales and Their Recent Bets on UBER Options

Investors with a lot of money to spend have taken a bearish stance on Uber Technologies UBER.

And retail traders should know.

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 36 uncommon options trades for Uber Technologies.

This isn’t normal.

The overall sentiment of these big-money traders is split between 38% bullish and 58%, bearish.

Out of all of the special options we uncovered, 18 are puts, for a total amount of $2,821,771, and 18 are calls, for a total amount of $1,397,716.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $40.0 and $84.0 for Uber Technologies, spanning the last three months.

Insights into Volume & Open Interest

In today’s trading context, the average open interest for options of Uber Technologies stands at 3349.56, with a total volume reaching 13,940.00. 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 $84.0, throughout the last 30 days.

Uber Technologies 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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 171 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

Present Market Standing of Uber Technologies

• Trading volume stands at 11,250,141, with UBER’s price down by -1.75%, positioned at $71.46.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 50 days.

Professional Analyst Ratings for Uber Technologies

3 market experts have recently issued ratings for this stock, with a consensus target price of $85.67.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* An analyst from KGI Securities downgraded its action to Neutral with a price target of $78.
* Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Uber Technologies, targeting a price of $92.
* An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $87.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Uber Technologies with Benzinga Pro for real-time alerts.