Whales with a lot of money to spend have taken a noticeably bearish stance on Block.
Looking at options history for Block SQ we detected 19 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $259,286 and 11, calls, for a total amount of $458,549.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.5 to $110.0 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 2342.05 with a total volume of 4,780.00.
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 $47.5 to $110.0 over the last 30 days.
Block 30-Day Option Volume & Interest Snapshot
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 | 02/21/25 | $7.9 | $7.5 | $7.8 | $77.50 | $78.0K | 68 | 101 |
| SQ | CALL | TRADE | BEARISH | 12/20/24 | $30.2 | $29.65 | $29.85 | $47.50 | $74.6K | 111 | 25 |
| SQ | CALL | TRADE | BULLISH | 11/15/24 | $8.0 | $8.0 | $8.0 | $70.00 | $56.0K | 3.2K | 280 |
| SQ | PUT | TRADE | BEARISH | 01/17/25 | $6.6 | $6.55 | $6.6 | $77.50 | $46.2K | 808 | 152 |
| SQ | CALL | SWEEP | BULLISH | 12/20/24 | $2.73 | $2.65 | $2.73 | $85.00 | $40.4K | 6.9K | 220 |
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.
Current Position of Block
- Trading volume stands at 5,127,017, with SQ's price down by -0.73%, positioned at $77.07.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 0 days.
What The Experts Say On Block
In the last month, 1 experts released ratings on this stock with an average target price of $88.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $88.
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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