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 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $230,360 and 6, calls, for a total amount of $418,460.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $90.0 for Block over the recent three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Block's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Block's substantial trades, within a strike price spectrum from $55.0 to $90.0 over the preceding 30 days.
Block Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | SWEEP | BULLISH | 01/16/26 | $7.9 | $7.75 | $7.75 | $55.00 | $139.5K | 265 | 184 |
| SQ | CALL | TRADE | BEARISH | 01/16/26 | $24.95 | $23.5 | $23.5 | $77.50 | $112.8K | 144 | 48 |
| SQ | CALL | TRADE | BEARISH | 06/21/24 | $6.65 | $6.35 | $6.4 | $80.00 | $96.0K | 4.8K | 150 |
| SQ | CALL | TRADE | BEARISH | 06/21/24 | $6.0 | $5.85 | $5.9 | $80.00 | $88.5K | 4.8K | 321 |
| SQ | PUT | SWEEP | BULLISH | 01/16/26 | $7.9 | $7.7 | $7.7 | $55.00 | $63.9K | 265 | 269 |
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.
In light of the recent options history for Block, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Block's Current Market Status
- Currently trading with a volume of 505,537, the SQ's price is down by -0.29%, now at $76.77.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 17 days.
Expert Opinions on Block
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $93.6.
- An analyst from Mizuho persists with their Buy rating on Block, maintaining a target price of $99.
- An analyst from Keybanc has decided to maintain their Overweight rating on Block, which currently sits at a price target of $95.
- An analyst from Wolfe Research persists with their Outperform rating on Block, maintaining a target price of $100.
- An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Block, which currently sits at a price target of $75.
- Consistent in their evaluation, an analyst from Benchmark keeps a Buy rating on Block with a target price of $99.
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 Block 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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