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 12 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $248,090 and 8, calls, for a total amount of $333,114.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $65.0 to $90.0 for Block during the past quarter.
Volume & Open Interest Development
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 $65.0 to $90.0 in the last 30 days.
Block 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | PUT | SWEEP | BEARISH | 12/20/24 | $13.35 | $13.25 | $13.35 | $80.00 | $142.8K | 1.1K | 0 |
| SQ | CALL | TRADE | BULLISH | 01/17/25 | $6.45 | $6.4 | $6.45 | $82.50 | $60.6K | 867 | 0 |
| SQ | CALL | TRADE | BULLISH | 09/20/24 | $1.41 | $1.38 | $1.41 | $90.00 | $60.3K | 3.3K | 21 |
| SQ | CALL | SWEEP | BULLISH | 01/17/25 | $6.9 | $6.7 | $6.84 | $80.00 | $47.9K | 4.7K | 5 |
| SQ | PUT | SWEEP | BULLISH | 07/19/24 | $1.21 | $1.21 | $1.21 | $72.00 | $45.8K | 444 | 38 |
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.
Following our analysis of the options activities associated with Block, we pivot to a closer look at the company's own performance.
Where Is Block Standing Right Now?
- Trading volume stands at 1,656,126, with SQ's price down by -0.33%, positioned at $71.83.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 15 days.
What Analysts Are Saying About Block
In the last month, 4 experts released ratings on this stock with an average target price of $88.0.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Block, targeting a price of $98.
- In a cautious move, an analyst from Goldman Sachs downgraded its rating to Buy, setting a price target of $80.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Block with a target price of $100.
- Consistent in their evaluation, an analyst from Keefe, Bruyette & Woods keeps a Market Perform rating on Block with a target price of $74.
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.
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