Taylor Swift's 'The Archer' is sparking a lot of speculation - CNN

The track is called "The Archer" and it's the fifth song on her new album, "Lover."

In an Instagram Live Session before the song dropped, Swift said, "There's a lot that's covered emotionally [on this album] and I really wanted to give you track five before the album came out."

"Track 5 is kind of a tradition that really started with you guys because, I didn't realize that I was doing this, but as I was making albums, I was instinctively putting very vulnerable, personal, honest, emotional songs as track 5," she added.

So, what's it about?

Some theories being bounced around:

Maybe it's a sequel to her song, "Delicate," from her sixth album, "Reputation,' on which she sings, "Any promises now, can we, babe? But you can make me a drink Dive bar on the East Side, where you at?"

Some are saying Swift is referencing Archer, a dive bar on London's East Side.

Others say it's about her boyfriend Joe Alwyn.

She sings, "I've been the archer, I've been the prey, screaming, who could ever leave me, darling, but who could stay?"

There's also some who suggest Swift is hinting at a falling out her friend Karlie Kloss -- or others in her circle -- with this lyric: "All the king's horses, all the king's men, couldn't put me together again, 'cause all of my enemies started out friends."

Swift identifies as both "the archer" and "the prey," in the tune. She sings she's "ready for combat," compares herself to a ghost in a house on fire, and tells the song's subject to stay with her so she doesn't die alone. (There's so much to dissect.)

The song was produced by Jack Antonoff.

"The Archer" will land in spot number five when "Lover" officially hits stores on August 23.

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