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News

Uber Technologies Options Trading: A Deep Dive into Market Sentiment

Author: Benzinga Insights | July 08, 2024 12:30pm

Investors with a lot of money to spend have taken a bullish stance on Uber Technologies (NYSE: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 17 uncommon options trades for Uber Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 29%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $632,418, and 14 are calls, for a total amount of $1,259,496.

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 $95.0 for Uber Technologies, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Uber Technologies stands at 2194.94, with a total volume reaching 1,172.00. 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 $95.0, throughout the last 30 days.

Uber Technologies Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
UBER CALL SWEEP NEUTRAL 12/19/25 $18.9 $18.85 $18.85 $65.00 $565.6K 36 0
UBER PUT TRADE BULLISH 08/16/24 $0.71 $0.68 $0.67 $60.00 $535.9K 15.6K 36
UBER CALL TRADE BEARISH 01/16/26 $22.65 $21.9 $22.0 $60.00 $220.0K 562 0
UBER CALL SWEEP BULLISH 07/19/24 $21.15 $21.05 $21.11 $50.00 $105.6K 1.0K 0
UBER CALL TRADE NEUTRAL 03/21/25 $33.45 $32.35 $33.0 $40.00 $66.0K 25 0

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.

After a thorough review of the options trading surrounding Uber Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Uber Technologies

  • With a volume of 2,790,277, the price of UBER is down -0.17% at $70.94.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 22 days.

What Analysts Are Saying About Uber Technologies

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $91.66666666666667.

  • An analyst from Citigroup has decided to maintain their Buy rating on Uber Technologies, which currently sits at a price target of $96.
  • Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Uber Technologies, targeting a price of $91.
  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Uber Technologies with a target price of $88.

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.

If you want to stay updated on the latest options trades for Uber Technologies, Benzinga Pro gives you real-time options trades alerts.

Posted In: UBER

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