Financial giants have made a conspicuous bullish move on Block. Our analysis of options history for Block SQ revealed 13 unusual trades.
Delving into the details, we found 53% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $321,284, and 8 were calls, valued at $366,325.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $95.0 for Block over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Block options trades today is 2058.09 with a total volume of 2,564.00.
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 $95.0 over 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 | CALL | TRADE | BULLISH | 01/17/25 | $3.15 | $3.05 | $3.12 | $80.00 | $124.8K | 5.1K | 0 |
| SQ | PUT | TRADE | BULLISH | 10/18/24 | $2.1 | $2.04 | $2.06 | $60.00 | $123.6K | 20 | 623 |
| SQ | PUT | SWEEP | BULLISH | 01/17/25 | $21.3 | $20.65 | $20.65 | $85.00 | $59.8K | 676 | 31 |
| SQ | CALL | SWEEP | NEUTRAL | 08/16/24 | $4.9 | $4.9 | $4.9 | $60.00 | $58.8K | 1.7K | 349 |
| SQ | PUT | SWEEP | BULLISH | 01/16/26 | $4.65 | $4.5 | $4.5 | $45.00 | $51.7K | 1.4K | 116 |
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.
Present Market Standing of Block
- With a volume of 1,966,653, the price of SQ is up 1.42% at $65.17.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 76 days.
What Analysts Are Saying About Block
In the last month, 5 experts released ratings on this stock with an average target price of $93.0.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Block, targeting a price of $93.
- In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $99.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $88.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Block with a target price of $85.
- An analyst from Macquarie has decided to maintain their Outperform rating on Block, which currently sits at a price target of $100.
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.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
