Bought $300k worth of $SPOT calls, not selling til $SPOT doubles

Spotify is transitioning from a mature music-streaming app to a dominant global audio platform with multiple under-monetized levers across ads, audiobooks, and podcasts. Pricing power is showing up, margins have inflected hard, and FCF is scaling, suggesting earnings could grow significantly faster than revenue.

Why it matters: The market may be underestimating Spotify's normalized earnings power, with a bull case around $1,200 per share within the next year.