Deep-pocketed investors have adopted a bullish approach towards Block SQ, 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 SQ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Block. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 41% bearish. Among these notable options, 6 are puts, totaling $228,141, and 11 are calls, amounting to $680,869.
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 $125.0 for Block during the past quarter.
Analyzing 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 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 $47.5 to $125.0 in the last 30 days.
Block Option Activity Analysis: 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 | CALL | SWEEP | BEARISH | 01/16/26 | $15.3 | $14.75 | $14.8 | $90.00 | $222.7K | 698 | 151 |
| SQ | CALL | TRADE | BULLISH | 01/16/26 | $7.75 | $7.6 | $7.7 | $125.00 | $85.4K | 1.1K | 167 |
| SQ | CALL | SWEEP | BULLISH | 09/20/24 | $3.25 | $3.15 | $3.25 | $90.00 | $81.1K | 1.3K | 3 |
| SQ | PUT | TRADE | BEARISH | 06/14/24 | $3.85 | $3.3 | $3.75 | $72.00 | $56.2K | 13 | 0 |
| SQ | CALL | SWEEP | BEARISH | 06/20/25 | $6.15 | $5.95 | $6.0 | $110.00 | $55.2K | 1.0K | 2 |
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?
- Trading volume stands at 2,613,991, with SQ's price down by -0.79%, positioned at $72.95.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 86 days.
What Analysts Are Saying About Block
In the last month, 5 experts released ratings on this stock with an average target price of $97.2.
- Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Block with a target price of $106.
- Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Block, targeting a price of $100.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Block with a target price of $100.
- An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $90.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Block, targeting a price of $90.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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