Spotify Technology Option Alert: Dec, 2026 $640 Calls at the Ask: 50 vs 14 OI; Earnings 4/22 Before Open [est] 

Spotify Technology Option Alert: Dec, 2026 $640 Calls at the Ask: 50 @ $146.5 vs 14 OI; Earnings 4/22 Before Open [est] Ref=$602.775

Spotify Technology Option Alert: Jan 16 $500 Puts at the Bid: 300 vs 446 OI; Earnings 4/22 Before Open [est] 

Spotify Technology Option Alert: Jan 16 $500 Puts at the Bid: 300 @ $50.5 vs 446 OI; Earnings 4/22 Before Open [est] Ref=$586.823

Spotify Technology Option Alert: Jun 20 $600 Calls Sweep (6) near the Ask: 98 vs 670 OI; Earnings 4/22 Before Open [est] 

Spotify Technology Option Alert: Jun 20 $600 Calls Sweep (6) near the Ask: 98 @ $54.0 vs 670 OI; Earnings 4/22 Before Open [est] Ref=$584.29

Spotify Technology Option Alert: Jul 18 $480 Calls Sweep (7) near the Ask: 47 vs 61 OI; Earnings 4/22 Before Open [est] 

Spotify Technology Option Alert: Jul 18 $480 Calls Sweep (7) near the Ask: 47 @ $133.35 vs 61 OI; Earnings 4/22 Before Open [est] Ref=$584.57

Spotify Technology (NYSE:SPOT) Stock

Spotify Technology

Spotify is the leading global music streaming service provider, with nearly 700 million monthly active users and over 250 million paying subscribers, with the latter comprising the firm's premium segment. most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

Spotify Technology SA

Spot Coffee (Canada) Ltd

SPOTLITE360 IOT SOLUTION by SpotLite360 IOT Solutions Inc.

SpotLite360 IOT Solutions Inc

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Spotlight Homes Inc

SPOTLIGHT CAP HLDGS INC by Spotlight Capital Holdings, Inc.

spotlight Capital Holdings Inc

Former President of NBC Cable (now NBCUniversal Media), Tom Rogers has been bullish on Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) for several years. He says the company&#8217;s 5-year plan to <a href="https://benzinga.com/markets/equities/25/04/44806071/netflix-eyes-1-trillion-market-cap-by-2030-aims-to-double-revenue-and-dominate-global-streaming-report">hit $1 trillion</a> in market capitalization by 2030 is &#8220;very realistic,&#8221; and not &#8220;that hard to get.&#8221;
What Happened: The media executive, who now serves as the Chairman of gaming platform Oorbit, joined CNBC&#8217;s &#8220;Fast Money&#8221; on Wednesday, expressing his thoughts on Netflix&#8217;s recent growth targets and why he feels that they are achievable.
Rogers says, &#8220;it [Netflix] can stay tougher under a downturn than just about any other media stock,&#8221; since only 4% of its revenues come from advertising.
See More: <a href="https://www.benzinga.com/tech/25/04/44856114/nvidia-says-it-follows-us-government-instructions-on-what-it-can-sell-and-where-amid-trade-war-escalation-with-china">Nvidia Says It Follows US Government Instructions On What It Can Sell And Where Amid Trade War Escalation With China</a>
While Netflix is currently in a defensive position due to its lower exposure to advertising, Rogers says that the company has to do well on advertising over the next 5 years to get to &#8220;the trillion-dollar market cap.&#8221;
&#8220;It&#8217;s not that hard to get there,&#8221; he says, &#8220;you probably have to get to 400 million subscribers,&#8221; which is 100 million more than <a href="https://benzinga.com/general/sports/25/04/44848932/netflix-q1-earnings-preview-no-subscriber-figures-experts-see-shares-as-safer-haven-in-this-tariff-war-environment">they recently announced</a>, or 20 million new subscriptions each year for the next five years.
Netflix is on track to hit 30% EBITDA margins this year, and according to Rogers, pushing that up to 40% within the next four and a half years is &#8220;eminently doable.&#8221; He points to the company's ad business as a key growth lever that&#8217;ll need to ramp up and scale to make that happen, while saying that &#8220;Netflix is a scale player&#8221; and &#8220;scale begets scale.&#8221;
Rogers says this new high-margin revenue stream could help Netflix triple its bottom line and double its top line, which at the stock&#8217;s current multiple &#8220;will get you to a trillion dollars.&#8221;
There is, however, a caveat, Rogers says, &#8220;Netflix&#8217;s engagement has to stay strong,&#8221; as it is the key to the platform&#8217;s pricing power and advertising revenue. He points out that the platform has dropped below 8% of all viewing time in March, losing market share to YouTube, which he expects to be covered during the company&#8217;s upcoming first-quarter earnings.
Why It Matters: According to <a href="https://in.benzinga.com/25/03/44471782/netflix-spotify-can-weather-economic-uncertainty-because-of-subscription-based-models-says-jim-cramer-heres-what-their-charts-are-indicating">a recent analysis</a> by Jim Cramer, subscription businesses like Netflix and Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) can weather economic uncertainties significantly better than others.
Other analysts have reiterated this claim, with Oppenheimer &amp; Co.&#8217;s Jason Helfstein calling it the &#8220;cleanest story&#8221; in media, in the case of U.S. or global recession, once again citing the platform&#8217;s less reliance on advertising for revenue, <a href="https://deadline.com/2025/04/netflix-q1-2025-earnings-tariffs-wall-street-media-1236368789/">reported</a> by Deadline.
Price Action: Netflix stock ended down 1.54% on Wednesday ahead of its first quarter earnings release, but is up 5.87% in after-hours trading.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="138" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/17005432/Screenshot-2025-04-17-at-10.24.14-AM-1024x138.png" alt="" class="wp-image-875641" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/17005432/Screenshot-2025-04-17-at-10.24.14-AM-1024x138.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/17005432/Screenshot-2025-04-17-at-10.24.14-AM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/17005432/Screenshot-2025-04-17-at-10.24.14-AM-768x104.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/17005432/Screenshot-2025-04-17-at-10.24.14-AM-1536x208.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/17005432/Screenshot-2025-04-17-at-10.24.14-AM.png 1612w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Netflix shows strong momentum across the board in <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga&#8217;s Edge Stock Rankings</a>, only scoring low on &#8216;Value&#8217; at 11.82. For more insights on the company and its peers, consider signing up for Benzinga Edge today.
Photo: marekfromrzeszow / Shutterstock
Read More: <a href="https://www.benzinga.com/markets/25/04/44855903/scott-bessent-warns-of-serious-risk-to-anyone-buying-iran-oil-crude-moves-up-us-futures-and-nikkei-post-modest-gains">Scott Bessent Warns Of &#8216;Serious Risk&#8217; To Anyone Buying Iran Oil — Crude Moves Up, US Futures And Nikkei Post Modest Gains</a>

Entertainment

News

Markets

NFLX

SPOT

Netflix's $1 Trillion Goal 'Very Realistic', Says Former Cable Executive: 'It's Not That Hard To Get There'

Investors with a lot of money to spend have taken a bullish stance on Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>).
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 SPOT, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://www.benzinga.com/pro/">Benzinga</a>'s options scanner spotted 27 uncommon options trades for Spotify Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 33%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $738,309, and 20 are calls, for a total amount of $1,149,590.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $460.0 to $820.0 for Spotify Technology over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Spotify Technology'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 Spotify Technology's whale trades within a strike price range from $460.0 to $820.0 in the last 30 days. 
<h3>Spotify Technology Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1744826494_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/16/25</td>
<td>$27.8</td>
<td>$26.75</td>
<td>$27.13</td>
<td>$530.00</td>
<td>$362.0K</td>
<td align="right">53</td>
<td align="right">141</td>
</tr>
<tr>
<td>SPOT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/16/25</td>
<td>$14.25</td>
<td>$13.4</td>
<td>$13.88</td>
<td>$480.00</td>
<td>$184.5K</td>
<td align="right">125</td>
<td align="right">134</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/25/25</td>
<td>$13.0</td>
<td>$12.3</td>
<td>$13.0</td>
<td>$582.50</td>
<td>$130.0K</td>
<td align="right">0</td>
<td align="right">100</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/25/25</td>
<td>$13.65</td>
<td>$12.1</td>
<td>$12.5</td>
<td>$582.50</td>
<td>$120.0K</td>
<td align="right">0</td>
<td align="right">201</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$112.85</td>
<td>$108.6</td>
<td>$108.6</td>
<td>$460.00</td>
<td>$108.6K</td>
<td align="right">86</td>
<td align="right">10</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify is the leading global music streaming service provider, with nearly 700 million monthly active users and over 250 million paying subscribers, with the latter comprising the firm's premium segment. most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.
Following our analysis of the options activities associated with Spotify Technology, we pivot to a closer look at the company's own performance.
<h3>Where Is Spotify Technology Standing Right Now?</h3>
<ul>
<li>With a trading volume of 1,029,125, the price of SPOT is down by -2.31%, reaching $559.17.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 13 days from now.</li>
</ul>
<h3>What The Experts Say On Spotify Technology</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $651.0.
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. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Keybanc has decided to maintain their Overweight rating on Spotify Technology, which currently sits at a price target of $625. 
&#x2A; An analyst from China Renaissance downgraded its action to Buy with a price target of $740. 
&#x2A; An analyst from Cantor Fitzgerald persists with their Neutral rating on Spotify Technology, maintaining a target price of $520. 
&#x2A; An analyst from UBS has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $680. 
&#x2A; An analyst from UBS has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $690. 
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 Spotify Technology, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Check Out What Whales Are Doing With SPOT

Cantor Fitzgerald analyst Deepak Mathivanan maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Neutral and lowers the price target from $600 to $520.

Price Target

Analyst Ratings

Cantor Fitzgerald Maintains Neutral on Spotify Technology, Lowers Price Target to $520

<a href="https://x.com/spotifystatus/status/1912538521489051844?s=46&amp;t=dtUiyC3dUs5yGRgT9qYHWg" title="https://x.com/spotifystatus/status/1912538521489051844?s=46&amp;t=dtUiyC3dUs5yGRgT9qYHWg">https://x.com/spotifystatus/status/1912538521489051844?s=46&amp;t=dtUiyC3dUs5yGRgT9qYHWg</a>

General

Spotify, Regarding Status On Outage, Posts On X Saying "All Clear"

<a href="https://support.spotify.com/ca-en/article/ongoing-issues/" title="https://support.spotify.com/ca-en/article/ongoing-issues/">https://support.spotify.com/ca-en/article/ongoing-issues/</a>

Spotify Is Down According To Widespread User Reports Across The U.S. And Europe, With Issues Preventing The Platform From Loading Or Streaming

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/04/15/final-trades-netflix-charles-schwab-spotify-and-the-efa.html">Halftime Report Final Trades</a>,&#8221; Joshua Brown of Ritholtz Wealth Management said Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is a <a href="https://www.benzinga.com/markets/equities/25/04/44806071/netflix-eyes-1-trillion-market-cap-by-2030-aims-to-double-revenue-and-dominate-global-streaming-report">defensive tech</a>.
Netflix shares settled higher Tuesday following reports that the entertainment giant plans to double its revenue by 2030. According to a Wall Street Journal report, Netflix shared ambitious new growth targets at its annual business review meeting last month, including plans to double its revenue by 2030. The streaming giant reported $39 billion in total revenue last year.
Shannon Saccocia of NB Private Wealth picked iShares MSCI EAFE ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFA#NYSE">EFA</a>).
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Stephanie Link of Hightower named The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), saying cash deposits are improving.
On March 14, Charles Schwab said its core net new assets brought to the company by new and existing clients stood at $48.0 billion, up around 44% year-over-year. Transactional sweep cash increased by $4.7 billion to end February at $404.3 billion.
Joseph M. Terranova of Virtus Investment Partners picked Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) as his final trade.
On Tuesday, UBS analyst Batya Levi maintained Spotify with a Buy rating but lowered the price target from $690 to $680.
Price Action:
<ul>
<li>Netflix shares gained 4.8% to close at $976.28 on Tuesday.</li>
<li>iShares MSCI EAFE ETF rose 0.9% during Tuesday's session.</li>
<li>Charles Schwab shares gained 0.4% to close at $77.19 on Tuesday.</li>
<li>Spotify gained 4.2% to settle at $572.39 during Tuesday's session.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/04/44811698/jim-cramer-planet-fitness-is-doing-better-than-expected-says-no-to-this-industrial-stock">Jim Cramer: Planet Fitness Is Doing Better Than Expected, Says No To This Industrial Stock</a></li>
</ul>
Photo: Shutterstock

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Trading Ideas

SCHW

Netflix, Spotify, Charles Schwab And More On CNBC's 'Final Trades'

WIIM

Spotify Technology shares are trading higher. UBS maintained its Buy rating on the stock

CNBC Halftime Report Final Trades: Netflix, Charles Schwab, Spotify Technology, iShares MSCI EAFE ETF

UBS analyst Batya Levi maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and lowers the price target from $690 to $680.

UBS Maintains Buy on Spotify Technology, Lowers Price Target to $680

ValueAct Holdings, L.P. initiated a position in Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) in the fourth quarter of 2024, purchasing 536,900 shares worth approximately $122 million, according to a 13F-HR filing with the U.S. Securities and Exchange Commission on Feb. 14.
What Happened: Since then, Amazon&#8217;s stock has dropped 20.81% from $228.86 to $181.22 as of Thursday&#8217;s close, largely due to pressure from President Donald Trump&#8216;s newly implemented tariff policies. 
The decline reduced ValueAct&#8217;s Amazon investment by about $25 million to roughly $97 million.
Meanwhile, the San Francisco-based activist hedge fund reduced its Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) position by 1,015,800 shares, a 26% cut to its largest holding. 
Salesforce stock has fallen 21.63% from $325.54 to $255.12 during the same period. This well-timed reduction helped ValueAct avoid approximately $71 million in potential losses amid market volatility.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44754189/bitcoin-ethereum-dogecoin-tumble-as-trump-ups-china-tariffs-scraps-irs-rule-in-nod-to-crypto-voters-rising-yuan-could-boost-altcoins-says-analyst">Bitcoin, Ethereum, Dogecoin Tumble As Trump Ups China Tariffs, Scraps IRS Rule In Nod To Crypto Voters: Rising Yuan Could Boost Altcoins, Says Analyst</a>
Why It Matters: The strategic moves come during a tumultuous market environment where Trump&#8217;s administration has implemented a temporary 10% universal tariff on most imports and <a href="https://www.benzinga.com/markets/equities/25/04/44753780/us-stock-futures-fall-nikkei-crashes-over-5-as-markets-reel-from-trumps-tariff-shock">a steep 145% duty on Chinese goods</a>, triggering significant market declines. The Nasdaq-100 lost 4.19% and the S&amp;P 500 fell 3.46% in recent trading.
ValueAct&#8217;s investment approach aligns with its history of backing technology and growth sectors. The firm, which manages <a href="https://www.benzinga.com/markets/equities/25/02/43518855/jeff-ubbens-valueact-bet-on-meta-visa-and-exited-spotify-in-q3-was-it-a-clever-move">approximately $9.27 billion in assets</a>, has demonstrated mixed results with recent investments. 
Led by CEO Mason Morfit and co-CEO Rob Hale since founder Jeff Ubben&#8216;s departure in 2020, ValueAct has built a reputation for its collaborative activist investment style that seeks to influence <a href="https://www.benzinga.com/25/02/43875453/valueact-bets-119-million-on-amazon-as-analysts-see-25-upside-whats-driving-jeff-bezos-e-commerce-giant">corporate policy to enhance company value</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/commodities/25/04/44754594/gold-miners-rally-as-bullion-hits-3212-record-trump-tariffs-fuel-over-20-year-to-date-surge-across-sector">Gold Miners Rally As Bullion Hits $3,212: Trump Tariffs Fuel Over 20% Year-To-Date Surge Across Sector</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Shares of companies within the broader communication services sector are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

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Shares of companies within the broader communication services sector are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

Keybanc analyst Justin Patterson maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Overweight and lowers the price target from $675 to $625.

Keybanc Maintains Overweight on Spotify Technology, Lowers Price Target to $625

JP Morgan analyst Doug Anmuth maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Overweight and lowers the price target from $730 to $640.

JP Morgan Maintains Overweight on Spotify Technology, Lowers Price Target to $640

<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="582" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05221731/Animated-1987-1024x582.jpg" alt="" class="wp-image-9785" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05221731/Animated-1987-1024x582.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05221731/Animated-1987-300x171.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05221731/Animated-1987-768x436.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05221731/Animated-1987.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">You Just Survived The 16th-Worst 2-Day Period For Stocks</h2>
According to Michael McDonough, Thursday and Friday were the 16th worst 2-day period for the S&amp;P 500 in history.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If my math is right, we just had the 16th worst 2‑day performance in the S&amp;P 500 in history: Top 25 Largest 2‑Day Declines: 1987‑10‑19: -24.57% 1929‑10‑29: -21.78% 1933‑07‑21: -16.81% 1987‑10‑20: -16.23% 1929‑11‑06: -14.66% 2020‑03‑12: -13.93% 1932‑10‑10: -13.59% 1933‑07‑20:…
&mdash; Michael McDonough (@M_McDonough) <a href="https://twitter.com/M_McDonough/status/1908265533230747690?ref_src=twsrc%5Etfw">April 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">Some Of You Did More Than Survive</h2>
If you&#8217;re reading this, you survived. And if you followed our suggestions this week&#8211;to <a href="https://www.benzinga.com/markets/equities/25/03/44562306/are-we-heading-into-a-bear-market">raise </a>cash and hedge on Monday&#8230;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/q7rnVWN3hA">https://t.co/q7rnVWN3hA</a>
&mdash; Portfolio Armor (@PortfolioArmor) <a href="https://twitter.com/PortfolioArmor/status/1906521233518125227?ref_src=twsrc%5Etfw">March 31, 2025</a></blockquote>
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To enter <a href="https://www.benzinga.com/markets/equities/25/04/44607209/betting-on-both-outcomes-a-liberation-day-gameplan">binary trades</a> on Tuesday&#8230;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">(Max losses on both trades are 100%, which would occur if our two stocks end the week flat from here.)<a href="https://t.co/4SP9hoRYzy">https://t.co/4SP9hoRYzy</a>
&mdash; Portfolio Armor (@PortfolioArmor) <a href="https://twitter.com/PortfolioArmor/status/1907096366779687239?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote>
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And to&nbsp;<a href="https://portfolioarmor.substack.com/p/trade-alert-adding-short-exposure">add short exposure</a>&nbsp;on Wednesday&#8230;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/0At9cbQEeE">https://t.co/0At9cbQEeE</a>
&mdash; Portfolio Armor (@PortfolioArmor) <a href="https://twitter.com/PortfolioArmor/status/1907505190971883920?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
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You thrived.&nbsp;
<ol>
<li>Credit put spread on&nbsp;Spotify Technology, S.A.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>). Entered at a net credit of $8 on&nbsp;<a href="https://portfolioarmor.substack.com/p/trade-alert-liberation-day">4/1/2025</a>; this is still open, but looks like we'll exit at a net debit of $10 on 4/4/2025.&nbsp;Loss: 100%.</li>
<li>Calls on Spotify (<a href="https://substack.com/discover/stocks/SPOT" target="_blank" rel="noreferrer noopener">SPOT 0.00%↑</a>). Bought for $1.67 on 4/1/2025; sold (second half) for $4 on 4/3/2025. Profit: 2%</li>
<li>Puts on Arm Holdings, Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>). Bought for $1.82 on 4/2/2025; sold (half) for $4 on 4/3/2025. Profit: 120%.</li>
<li>Calls on Broadcom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>). Bought for $1.74 on 4/2/2025; sold (half) for $4 on 4/3/2025. Profit: 130%.</li>
<li>Calls on Spotify (SPOT 0.00%↑). Bought for $1.67 on 4/1/2025; sold (half) for $4 on 4/2/2025. Profit: 140%.</li>
<li>Credit call spread on Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Entered at a net credit of $7.50 on 4/1/2025; exited at a net debit of $0.20 on 4/4/2025. Profit: 292%.</li>
<li>Puts on Nvidia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). Bought for $1.17 on 4/2/2025; sold (half) for $5.80 on 4/4/2025. Profit: 396%.</li>
</ol>
Although you took a bath on our bullish binary trade, the credit put spread on Spotify, you made money on everything else.&nbsp;
<h2 class="wp-block-heading">What If The Worst Two-Day Period Is Ahead Of Us?&nbsp;</h2>
The worst two-day period for the S&amp;P 500 happened in 1987. What if something that bad&#8211;or worse&#8211;happens again? In the guest post below, our friend David Janello, PhD, CFA, has a suggestion for how you can protect against that.&nbsp;
Dr. Janello is the founder of SpreadHunter, and the author of The Nuclear Option: Trading To Win With Options Momentum Strategies.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.amazon.com/dp/B0C87VC47C?ref_=cm_sw_r_ffobk_cp_ud_dp_JXCJEQK0686P75VWB8M6_1&amp;peakEvent=1&amp;dealEvent=0&amp;starsLeft=1&amp;skipTwisterOG=1&amp;bestFormat=true"><img loading="lazy" decoding="async" width="500" height="737" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05222908/Nuclear.jpg" alt="" class="wp-image-9786" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05222908/Nuclear.jpg 500w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05222908/Nuclear-204x300.jpg 204w" sizes="(max-width: 500px) 100vw, 500px" /></a></figure>
Authored by David Janello, PhD, CFA at Nuclear Options Trading.
<h2 class="wp-block-heading">Protecting Against A 1987-Style Crash</h2>
With the market continuing its relentless drive lower, there are a few outcomes that can unfold over the next week or two. Here are option trades (with fill prices) to capture extreme profits in one or more of these scenarios. But equally important, we look at trades to avoid because of poor pricing.
The most likely possibilities for the market in the near future are:
<ol>
<li>A sharp move higher, from extreme oversold conditions (no news)</li>
<li>A violent move higher, based on a truce in the ongoing trade war</li>
<li>A continuous move straight down for 30-90 days, like 2022</li>
<li>Or a violent move lower, on either no news or an acceleration in the trade war</li>
</ol>
<h2 class="wp-block-heading">The More Likely Scenarios</h2>
In our opinion, Scenarios 1 and 2 are the most likely to occur. Unfortunately, the options pricing to capture these moves is extremely poor, which generates mediocre profits even if the forecast comes true.
Recall that we discussed the 2022 Scenario discussed in an earlier Nuclear Option Substack post, with an example bearish trade in TSLA that was profitable. And because of the potential for a violent move up (on tariff / trade war truce) we would avoid re-initiating this trade because of the extremely high risk.
The final scenario, a violent move lower, perhaps Monday at the open (like 1987) is the only scenario with decently priced spread trades.
Our favorite trade from this morning was this:
<ul>
<li>Long VIX Index 70-90 Call Vertical Spread Expiring April 16 at 0.20.</li>
</ul>
This trade risks 20- for a 2000- potential gain. Although it is a low probability trade, the potential profits more than make up for it. If we get a 1987 type crash on Monday morning, this is the trade have.
NOTE: You can only trade VIX Index Options and Complex Spreads on the CBOE Exchange.
Algorithmic Trades:
<ul>
<li>Visa (V) 255 Put 255 Strike Put Calendar Apr 17-Apr25 day traded for a 142% profit earlier. If you want to try to get more, set the max price at 0.07.</li>
<li>Exxon Mobil (XOM) 95 Strike Put Calendar Apr 17-25 day traded for 333% profit at the close</li>
</ul>
DISCLAIMER: All Content on the Nuclear Option Substack is for Education and Information Purposes only. It does not constitute a solicitation or recommendation to buy or sell any security. Before trading, consult with your Professional Financial Advisor and read the booklet Characteristics and Risks of Standardized Options Contracts, available from the Options Clearing Corporation.
<h2 class="wp-block-heading">If You Just Want To Hedge</h2>
As a reminder, you can download the Portfolio Armor optimal hedging app by aiming your iPhone camera at the QR code below (or by&nbsp;<a href="https://apps.apple.com/us/app/portfolio-armor/id394951144">tapping here</a>, if you&#8217;re reading this on your phone). Our app can help you find the least expensive hedges given your risk tolerance and time frame.
<figure class="wp-block-image size-full"><a href="https://apps.apple.com/us/app/portfolio-armor/id394951144"><img loading="lazy" decoding="async" width="200" height="197" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05223551/QR-Code-2.jpg" alt="" class="wp-image-9787" /></a></figure>
And if you want a heads up when we place our next trade, you can subscribe to our trading Substack/occasional email list below.&nbsp;
If you&#8217;d like to stay in touch
You can subscribe to Dr. Janello&#8217;s Substack<a href="https://nuclearoptiontrading.substack.com/">&nbsp;here</a>.&nbsp;
You can scan for optimal hedges for individual securities, find our current top ten names, and&nbsp;create hedged portfolios&nbsp;on&nbsp;<a href="https://portfolioarmor.com/">our website</a>.&nbsp;Also, you can follow Portfolio Armor on X&nbsp;<a href="https://twitter.com/portfolioarmor">here</a>, or become a free subscriber to our trading Substack using the link below (we&#8217;re using that for our occasional emails now).
<figure class="wp-block-image aligncenter size-full"><a href="https://portfolioarmor.substack.com/"><img loading="lazy" decoding="async" width="581" height="372" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05223831/Widget-2.jpg" alt="" class="wp-image-9788" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05223831/Widget-2.jpg 581w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/05223831/Widget-2-300x192.jpg 300w" sizes="(max-width: 581px) 100vw, 581px" /></a></figure>

Technicals

Signals

AVGO

NVDA

TSLA

How to Protect Against A 1987-Style S&P 500 Crash Scenario

MDIA

Shares of companies within the broader communication services sectors are trading lower as global markets continue to decline following President Trump's announcement of sweeping tariffs.

<a href="https://www.benzinga.com/news/25/03/44375147/smart-puppies-are-smarter-than-ai-mark-cubans-surprising-take-on-the-future-of-artificial-intelligence">Artificial intelligence</a> can churn out scripts, generate music, and even create entire films in minutes. But does that mean human creatives are on the way out? Not according to billionaire investor <a href="https://www.benzinga.com/startups/25/01/43084861/mark-cubans-29-million-shark-tank-portfolio-from-200k-in-dude-wipes-to-200m-for-beatbox-beverages-im-killing-it">Mark Cuban</a>.
Cuban, known for his bold takes on business and technology, recently addressed AI's role in entertainment on the <a href="https://www.youtube.com/watch?v=lUwmA0lOWwM">"Your Mom's House" </a>podcast.&nbsp;
"AI can propose a million things in a second, but then somebody&#8217;s got to go through and decide what they&#8217;re going to put their money into,&#8221; he said. His take? AI is just a tool, not the mastermind behind Hollywood's next big hit.
Don't Miss:
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<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>
<h2 class="wp-block-heading">The AI Takeover Fear Is Real</h2>
Not everyone shares Cuban's confidence. The 2023 Hollywood writers' and actors' strikes were fueled by fears that AI could replace screenwriters and performers altogether.&nbsp;
Over 11,000 writers, represented by the Writers Guild of America, walked off the job to demand stronger protections against AI-generated scripts. SAG-AFTRA joined the fight, pushing for safeguards as AI technology advanced at a breakneck pace.
The fear isn't unfounded. A study by the <a href="https://www.brookings.edu/articles/generative-ai-the-american-worker-and-the-future-of-work/?utm_source=chatgpt.com">Brookings Institution</a> found that AI is already disrupting industries that rely on dynamic information processing, including creative fields like writing and software development.&nbsp;
According to the <a href="https://www.ft.com/content/0ac1fe79-4c2a-4030-8046-061293ba1127?accessToken=zwAGEWkI51bokc8Kwf55TCpAMNOARgYSk7oRJw.MEQCIG5-PQaa6iGLaikfBFtPehc-hzozRviMYt85T9M7DDvLAiBgfIMjMZBGPCW26esEtNmB134EiMbOs6AoNHkJ5hEGRQ&amp;sharetype=gift&amp;token=de99c9c8-c493-4cf6-842f-2b54a83b2bbf&amp;utm_source=chatgpt.com">Financial Times</a>, AI-driven content creation tools have already replaced some entry-level creative roles.
Hollywood has seen attempts to use technology to predict blockbusters before—usually with mixed results. Studios have long relied on data analytics to determine which scripts and actors will generate the biggest returns.&nbsp;
Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
But Cuban isn't convinced AI will crack the code. &#8220;I&#8217;ve seen companies that use analytics to determine what a studio or label should release, fail time after time,&#8221; he said<a href="https://africa.businessinsider.com/entertainment/mark-cuban-says-ai-cant-completely-automate-the-creative-process/1f43wt7">.</a> &#8220;That&#8217;s the same as using AI to replace everyone. It may be a novelty. But it won&#8217;t work.&#8221;
This isn't the first time a new technology has threatened to upend the entertainment world. In the early 2000s, digital music-sharing platforms like Napster disrupted the music industry, sending record labels into a panic.&nbsp;
But rather than kill the industry, it paved the way for streaming services like Spotify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), which now dominate the market.
The invention of photography in the 19th century sparked fears that traditional painting would become obsolete. Instead, artists adapted, leading to new movements like Impressionism and modern art.
See Also: Have $200K saved?<a href="https://www.benzinga.com/money/have-200k-saved-heres-how-to-turn-it-into-lasting-wealth"> Here's how to turn it into lasting wealth</a>
Cuban believes the same evolution will happen with AI. &#8220;It's part of the natural progression from drawing to CGI and now text to video, with new tools coming to take it even further." Cuban isn't against AI—far from it.&nbsp;
He sees it as a way for top creatives to refine their work and make their process more efficient. &#8220;Veteran creatives who are able to harness the power of AI to improve their own output will continue to see major dividends,&#8221; he said.&nbsp;
AI, he argues, will help top-tier talent become even better by accelerating storyboarding, testing, and production.
Still, Cuban is clear: AI lacks the gut instinct that makes creative work resonate with audiences. "There is a reason why some people have hit after hit&#8230; They have a feel for what the audience wants at that point in time," he said.
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
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Personal Finance

AI Won't Steal Hollywood's Magic, Says Mark Cuban – 'The Best Will Get Even Better, But AI Can't Replace That Feel'

Shares of companies within the broader communication services sector are trading lower as markets react to President Trump's announcement of sweeping tariffs.

Spotify Technology shares are trading higher after UBS maintained its Buy rating on the stock, despite lowering the price target to $690.

UBS analyst Batya Levi maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and lowers the price target from $720 to $690.

UBS Maintains Buy on Spotify Technology, Lowers Price Target to $690

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NYSE CONTENT ADVISORY: New York Stock Exchange Partnership Network Update

How the Music Industry's Cultural and Financial Impact Define Its Success in 2025: Spotify Loud & Clear Report

Spotify Technology S.A. to Announce Results for First Quarter 2025

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SSSS

Cantor Fitzgerald

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JP Morgan

Wells Fargo

Screenshot 2024-11-11 at 7.27.28 PM

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Comments

Spotify Technology

Unusual Options Activity for

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL

Date	Put/Call	Strike Price	Exp Date	DTE	Trade Vol	Day Vol	Vol / OI	OI	Trade Type	Sentiment
12:31 PMMar 24, 2025	CALL	$640.00	Dec 18, 2026	608	50	50	357	14	TRADE	BULLISH
11:43 AMMar 19, 2025	PUT	$500.00	Jan 16, 2026	272	300	300	67	446	TRADE	BEARISH
11:20 AMMar 19, 2025	CALL	$600.00	Jun 20, 2025	62	104	98	16	670	SWEEP	BULLISH
12:52 PMMar 17, 2025	CALL	$480.00	Jul 18, 2025	90	48	47	79	61	SWEEP	BULLISH