Spotlight on Uber Technologies: Analyzing the Surge in Options Activity

Author: Benzinga Insights | August 19, 2024 12:30pm

Financial giants have made a conspicuous bullish move on Uber Technologies. Our analysis of options history for Uber Technologies (NYSE:UBER) revealed 13 unusual trades.

Delving into the details, we found 61% of traders were bullish, while 23% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $216,327, and 8 were calls, valued at $669,640.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $90.0 for Uber Technologies over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Uber Technologies's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Uber Technologies's whale activity within a strike price range from $30.0 to $90.0 in 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	CALL	SWEEP	BULLISH	01/17/25	$44.45	$43.25	$44.04	$30.00	$440.3K	7.3K	100
UBER	PUT	SWEEP	BEARISH	08/23/24	$0.63	$0.62	$0.63	$71.00	$59.2K	6.8K	1.3K
UBER	PUT	TRADE	BULLISH	12/19/25	$5.6	$5.5	$5.5	$60.00	$56.1K	641	109
UBER	CALL	TRADE	NEUTRAL	06/20/25	$26.8	$26.6	$26.7	$50.00	$48.0K	1.4K	18
UBER	PUT	SWEEP	BULLISH	01/16/26	$6.7	$6.6	$6.6	$62.50	$40.2K	1.2K	61

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.

Uber Technologies's Current Market Status

• With a trading volume of 5,488,943, the price of UBER is up by 1.32%, reaching $72.99.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 78 days from now.

What Analysts Are Saying About Uber Technologies

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $88.4.

• Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Uber Technologies, targeting a price of $98.
• An analyst from Melius Research downgraded its action to Hold with a price target of $77.
• An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $80.
• In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $92.
• An analyst from Morgan Stanley persists with their Overweight rating on Uber Technologies, maintaining a target price of $95.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Uber Technologies options trades with real-time alerts from Benzinga Pro.

Posted In: UBER