Whales with a lot of money to spend have taken a noticeably bearish stance on Shopify.
Looking at options history for Shopify SHOP we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $139,465 and 10, calls, for a total amount of $365,305.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $130.0 for Shopify over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Shopify stands at 1199.45, with a total volume reaching 345.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Shopify, situated within the strike price corridor from $65.0 to $130.0, throughout the last 30 days.
Shopify 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SHOP | PUT | TRADE | BEARISH | 01/17/25 | $130.00 | $69.6K | 43 | 13 |
| SHOP | CALL | SWEEP | BEARISH | 09/20/24 | $80.00 | $63.3K | 2.6K | 0 |
| SHOP | CALL | TRADE | BULLISH | 05/17/24 | $85.00 | $42.4K | 2.2K | 5 |
| SHOP | PUT | TRADE | BULLISH | 10/18/24 | $80.00 | $39.9K | 284 | 33 |
| SHOP | CALL | TRADE | BULLISH | 10/18/24 | $65.00 | $38.8K | 27 | 3 |
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.
In light of the recent options history for Shopify, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Shopify's Current Market Status
- With a volume of 1,985,264, the price of SHOP is down -0.23% at $76.97.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 45 days.
What Analysts Are Saying About Shopify
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $75.0.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on Shopify, which currently sits at a price target of $75.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Shopify options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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