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 10 extraordinary options activities for Block. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 30% bearish. Among these notable options, 3 are puts, totaling $91,850, and 7 are calls, amounting to $286,980.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $82.5 for Block over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Block options trades today is 1331.44 with a total volume of 389.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Block's big money trades within a strike price range of $45.0 to $82.5 over the last 30 days.
Block Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | SWEEP | BULLISH | 09/20/24 | $8.55 | $8.45 | $8.55 | $62.50 | $65.8K | 338 | 77 |
| SQ | CALL | SWEEP | BULLISH | 09/20/24 | $11.65 | $11.55 | $11.65 | $57.50 | $55.9K | 533 | 1 |
| SQ | CALL | TRADE | BULLISH | 06/07/24 | $20.6 | $20.45 | $20.6 | $45.00 | $41.2K | 40 | 20 |
| SQ | CALL | SWEEP | BULLISH | 08/16/24 | $6.05 | $5.95 | $6.05 | $65.00 | $39.3K | 943 | 155 |
| SQ | PUT | TRADE | NEUTRAL | 01/16/26 | $16.05 | $15.65 | $15.85 | $70.00 | $31.7K | 1.2K | 20 |
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
Current Position of Block
- Trading volume stands at 3,909,514, with SQ's price down by -1.34%, positioned at $65.51.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 55 days.
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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