Deep-pocketed investors have adopted a bearish approach towards Block SQ, 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 SQ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Block. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 2 are puts, totaling $62,430, and 10 are calls, amounting to $618,410.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $80.0 for Block during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Block stands at 1990.8, with a total volume reaching 3,259.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Block, situated within the strike price corridor from $45.0 to $80.0, throughout the last 30 days.
Block Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SQ | CALL | SWEEP | BULLISH | 10/25/24 | $6.5 | $5.85 | $6.5 | $66.00 | $195.0K | 622 | 0 |
| SQ | CALL | TRADE | BEARISH | 12/20/24 | $7.75 | $7.6 | $7.65 | $70.00 | $76.5K | 3.8K | 113 |
| SQ | CALL | SWEEP | BEARISH | 11/08/24 | $3.65 | $3.5 | $3.5 | $75.00 | $70.0K | 1.3K | 271 |
| SQ | CALL | TRADE | BULLISH | 10/25/24 | $2.75 | $2.67 | $2.72 | $70.00 | $54.4K | 1.4K | 690 |
| SQ | CALL | TRADE | BEARISH | 10/25/24 | $2.73 | $2.7 | $2.7 | $70.00 | $53.7K | 1.4K | 893 |
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 volume of 2,462,410, the price of SQ is up 0.18% at $71.78.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 16 days.
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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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