Whales with a lot of money to spend have taken a noticeably bullish stance on Block.
Looking at options history for Block SQ we detected 24 trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $780,259 and 12, calls, for a total amount of $495,185.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $47.5 to $95.0 for Block during the past quarter.
Volume & Open Interest Development
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 $47.5 to $95.0 over the preceding 30 days.
Block Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | SWEEP | BULLISH | 09/20/24 | $6.65 | $6.6 | $6.6 | $70.00 | $257.4K | 2.6K | 583 |
| SQ | PUT | SWEEP | BULLISH | 07/19/24 | $6.75 | $6.65 | $6.65 | $75.00 | $99.0K | 1.1K | 309 |
| SQ | CALL | SWEEP | BULLISH | 09/20/24 | $10.55 | $10.4 | $10.5 | $70.00 | $93.4K | 1.4K | 175 |
| SQ | CALL | TRADE | BULLISH | 05/31/24 | $1.75 | $1.69 | $1.75 | $75.00 | $63.3K | 1.0K | 2 |
| SQ | PUT | SWEEP | BULLISH | 09/20/24 | $6.9 | $6.85 | $6.85 | $70.00 | $61.6K | 2.6K | 30 |
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.
Having examined the options trading patterns of Block, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Block Standing Right Now?
- Currently trading with a volume of 6,364,428, the SQ's price is up by 4.45%, now at $72.56.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 87 days.
What Analysts Are Saying About Block
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $98.2.
- An analyst from Baird persists with their Outperform rating on Block, maintaining a target price of $100.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Block, targeting a price of $106.
- Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on Block with a target price of $95.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Block with a target price of $98.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Block with a target price of $92.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Block with Benzinga Pro for real-time alerts.
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