Financial giants have made a conspicuous bearish move on Block. Our analysis of options history for Block SQ revealed 22 unusual trades.
Delving into the details, we found 45% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $459,411, and 12 were calls, valued at $1,084,786.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $47.5 and $95.0 for Block, spanning the last three months.
Volume & Open Interest Trends
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 $95.0 in the last 30 days.
Block Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | BEARISH | 12/18/26 | $22.7 | $20.55 | $21.0 | $60.00 | $630.0K | 165 | 300 |
| SQ | PUT | SWEEP | BULLISH | 09/13/24 | $3.95 | $3.9 | $3.9 | $63.00 | $117.3K | 11 | 301 |
| SQ | CALL | SWEEP | BEARISH | 06/20/25 | $9.95 | $9.85 | $9.85 | $67.50 | $90.6K | 163 | 98 |
| SQ | CALL | SWEEP | BULLISH | 09/06/24 | $1.24 | $1.21 | $1.24 | $66.00 | $61.5K | 28 | 497 |
| SQ | CALL | SWEEP | BULLISH | 09/13/24 | $1.12 | $1.04 | $1.12 | $68.00 | $56.0K | 26 | 502 |
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?
- With a trading volume of 2,753,832, the price of SQ is down by -0.5%, reaching $61.83.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 80 days from now.
What The Experts Say On Block
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $93.0.
- Consistent in their evaluation, an analyst from Macquarie keeps a Outperform rating on Block with a target price of $100.
- An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $99.
- An analyst from BMO Capital has decided to maintain their Outperform rating on Block, which currently sits at a price target of $93.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Block, which currently sits at a price target of $85.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $88.
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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