Investors with a lot of money to spend have taken a bullish stance on Shopify (NYSE:SHOP).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SHOP, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for Shopify.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 33%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $308,925, and 7 are calls, for a total amount of $379,852.

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 $60.0 and $85.0 for Shopify, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Shopify's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Shopify's substantial trades, within a strike price spectrum from $60.0 to $85.0 over the preceding 30 days.

Shopify 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Shopify

Where Is Shopify Standing Right Now?

• Currently trading with a volume of 1,358,881, the SHOP's price is down by -0.35%, now at $79.83.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 37 days.

Professional Analyst Ratings for Shopify

In the last month, 5 experts released ratings on this stock with an average target price of $81.2.

Turn $1000 into $1270 in just 20 days?

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Shopify, Benzinga Pro gives you real-time options trades alerts.