Investors with a lot of money to spend have taken a bullish stance on Block SQ.
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 SQ, 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 10 uncommon options trades for Block.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 30%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $251,427, and 6 are calls, for a total amount of $339,110.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $85.0 for Block over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Block options trades today is 1329.0 with a total volume of 3,674.00.
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 $50.0 to $85.0 over the last 30 days.
Block Call and Put Volume: 30-Day Overview
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 | TRADE | BULLISH | 09/19/25 | $18.8 | $18.55 | $18.8 | $65.00 | $127.8K | 73 | 96 |
| SQ | PUT | SWEEP | BULLISH | 11/15/24 | $6.05 | $6.0 | $6.05 | $75.00 | $108.9K | 2.6K | 180 |
| SQ | CALL | TRADE | BULLISH | 09/19/25 | $18.75 | $18.55 | $18.75 | $65.00 | $75.0K | 73 | 136 |
| SQ | CALL | SWEEP | BEARISH | 01/17/25 | $2.88 | $2.8 | $2.81 | $85.00 | $56.2K | 2.9K | 289 |
| SQ | PUT | TRADE | BEARISH | 10/25/24 | $1.2 | $1.16 | $1.2 | $73.00 | $53.8K | 1.3K | 1.9K |
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.
Block's Current Market Status
- Trading volume stands at 844,181, with SQ's price up by 1.53%, positioned at $72.48.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 11 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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