Investors Bullish on Uber as Unusual Options Trading Signals Market Optimism

Deep-pocketed investors are showing a strong interest in Uber Technologies, indicating a somewhat bullish sentiment in the market. This information comes from Benzinga’s tracking of public options records, which highlighted significant trading activities involving Uber on a particular day. While the identities of these investors remain unknown, such a noticeable increase in trading activity typically signals potential movements in the company’s stock.

In recent observations, Benzinga noted unusual options trading for Uber. Specifically, there were 16 extraordinary options activities identified, with a notable tilt towards bullish sentiments. Among these investors, about 62% are optimistic, while the remaining 37% hold a bearish view. In terms of numbers, the trading involved seven put options totaling approximately $311,445 and nine call options amassing around $827,068. The interest appears to be concentrated in a price range of $40 to $90 over the past three months, reflecting specific expectations regarding Uber’s price trajectory.

Uber Technologies operates in a growing sector by connecting riders with drivers, people with food delivery services, and shippers with carriers. The company’s technology could expand into new territories, including autonomous vehicles and aerial ride-sharing services known as Uber Elevate. As Uber competes in the market, analysts project a target price of $87.2 for the stock, emphasizing the company’s potential for growth. Traders looking to navigate the options market are reminded of the higher risks involved but can benefit from updates and insights to inform their investment decisions better.