Shopify Unusual Options Activity

Deep-pocketed investors have adopted a bullish approach towards Shopify SHOP, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SHOP usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 30 extraordinary options activities for Shopify. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 17 are puts, totaling $844,229, and 13 are calls, amounting to $677,535.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $110.0 for Shopify, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Shopify'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 Shopify's whale activity within a strike price range from $60.0 to $110.0 in the last 30 days.

Shopify Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Shopify

Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.

After a thorough review of the options trading surrounding Shopify, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Shopify Standing Right Now?

• With a trading volume of 6,476,381, the price of SHOP is down by -2.87%, reaching $78.96.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 72 days from now.

Expert Opinions on Shopify

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $81.6.

• An analyst from Mizuho persists with their Neutral rating on Shopify, maintaining a target price of $75.
• An analyst from UBS persists with their Neutral rating on Shopify, maintaining a target price of $80.
• An analyst from Wells Fargo persists with their Overweight rating on Shopify, maintaining a target price of $85.
• In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $100.
• Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Shopify with a target price of $68.

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 Shopify, Benzinga Pro gives you real-time options trades alerts.