Options Bulls Beat the Spotify Stock Pop

The security is today trading at more than two-year highs

Deputy Editor
Feb 6, 2024 at 12:50 PM
facebook X logo linkedin

Subscribers to our Schaeffer's Weekend Trader service scored a 146% profit with our recommended Spotify Technology SA (NYSE:SPOT) April 200 call in just over three weeks. Below, we'll explain why we recommended the bullish position in the first place, and how the trade played out so quickly. 

At the time of our recommendation on Sunday, Jan. 14, SPOT had just moved above the round $200 level -- a layer it failed to break above in December -- and found support at its 20-day moving aver. What's more, the 200-week trendline had just turned supportive, after acting as resistance in July 2023. Spotify stock was also testing its 200-day moving average, solidifying a bullish technical foundation. 

We also noted that the stock's Schaeffer's Volatility Index (SVI) 29% ranked in the extremely low 1st percentile of its annual range. This meant hat options were affordably priced when we made our bullish call. 

Taking a look at today's trading, Spotify stock was last seen 5.2% higher at $235.22, and earlier moved as high as $248.67 -- a more than two-year high -- after the streaming giant's monthly user and subscriber growth beat estimates. Now up 24.1% in 2024, traders that took our advice were able to more than double their money. 

SPOT Chart February 62024


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI