Deep-pocketed investors have adopted a bullish approach towards Shopify SHOP, 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 SHOP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Shopify. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 38% bearish. Among these notable options, 4 are puts, totaling $371,912, and 9 are calls, amounting to $792,427.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $57.0 and $120.0 for Shopify, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Shopify options trades today is 3441.45 with a total volume of 3,665.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Shopify's big money trades within a strike price range of $57.0 to $120.0 over the last 30 days.
Shopify 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHOP | CALL | TRADE | BULLISH | 03/21/25 | $5.5 | $5.35 | $5.5 | $85.00 | $440.0K | 833 | 800 |
| SHOP | PUT | TRADE | BULLISH | 06/20/25 | $6.45 | $6.3 | $6.35 | $60.00 | $139.0K | 2.0K | 219 |
| SHOP | PUT | TRADE | BEARISH | 06/20/25 | $8.7 | $8.65 | $8.7 | $65.00 | $104.4K | 2.4K | 0 |
| SHOP | PUT | SWEEP | BULLISH | 10/18/24 | $4.25 | $4.15 | $4.2 | $70.00 | $75.1K | 1.5K | 261 |
| SHOP | CALL | SWEEP | BEARISH | 09/06/24 | $13.2 | $13.1 | $13.2 | $57.00 | $66.0K | 197 | 50 |
About Shopify
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
After a thorough review of the options trading surrounding Shopify, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Shopify
- With a volume of 3,474,755, the price of SHOP is up 2.2% at $69.81.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 79 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 Shopify 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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