Market Whales and Their Recent Bets on Block Options

Whales with a lot of money to spend have taken a noticeably bearish stance on Block.

Looking at options history for Block SQ we detected 45 trades.

If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 51% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $368,261 and 38, calls, for a total amount of $3,135,609.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $130.0 for Block over the recent three months.

Volume & Open Interest Trends

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 Block'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 Block's whale activity within a strike price range from $45.0 to $130.0 in the last 30 days.

Block Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Block

Founded in 2009, Block provides payment services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. In 2023, Square's payment volume was a little over $200 million.

Current Position of Block

• With a volume of 4,180,670, the price of SQ is up 2.83% at $84.95.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 37 days.

Expert Opinions on Block

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $93.66666666666667.

• Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Block, targeting a price of $95.
• An analyst from Jefferies persists with their Buy rating on Block, maintaining a target price of $100.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Block with a target price of $86.

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