Financial giants have made a conspicuous bullish move on Block. Our analysis of options history for Block SQ revealed 17 unusual trades.
Delving into the details, we found 64% of traders were bullish, while 29% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $383,706, and 9 were calls, valued at $822,916.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $100.0 for Block over the recent three months.
Analyzing Volume & Open Interest
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 $40.0 to $100.0 in the last 30 days.
Block Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | SWEEP | BULLISH | 01/17/25 | $10.2 | $10.05 | $10.19 | $62.50 | $305.4K | 1.2K | 312 |
| SQ | CALL | SWEEP | BEARISH | 01/17/25 | $13.15 | $13.05 | $13.1 | $57.50 | $195.2K | 472 | 150 |
| SQ | PUT | SWEEP | BULLISH | 06/20/25 | $13.6 | $13.45 | $13.49 | $72.50 | $120.0K | 718 | 379 |
| SQ | CALL | SWEEP | BULLISH | 12/20/24 | $3.5 | $3.45 | $3.45 | $77.50 | $95.2K | 957 | 1.7K |
| SQ | CALL | SWEEP | BULLISH | 12/20/24 | $3.35 | $3.3 | $3.35 | $77.50 | $60.3K | 957 | 1.0K |
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.
Block's Current Market Status
- Currently trading with a volume of 2,746,553, the SQ's price is up by 0.75%, now at $66.36.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 73 days.
Expert Opinions on Block
In the last month, 5 experts released ratings on this stock with an average target price of $85.4.
- An analyst from Benchmark downgraded its action to Buy with a price target of $99.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Block, targeting a price of $93.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Underweight rating on Block with a target price of $55.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Block with a target price of $80.
- 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.
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