Whales with a lot of money to spend have taken a noticeably bullish stance on Block.
Looking at options history for Block SQ we detected 85 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $617,402 and 75, calls, for a total amount of $5,245,810.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $42.5 to $100.0 for Block over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Block stands at 2436.8, with a total volume reaching 102,815.00. 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 $42.5 to $100.0, 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 | BEARISH | 11/15/24 | $0.37 | $0.33 | $0.28 | $91.00 | $431.6K | 179 | 13.3K |
| SQ | CALL | SWEEP | BULLISH | 12/20/24 | $10.3 | $10.2 | $10.27 | $75.00 | $203.8K | 5.0K | 1.7K |
| SQ | CALL | SWEEP | BEARISH | 01/17/25 | $8.0 | $7.85 | $7.85 | $80.00 | $137.3K | 8.2K | 1.7K |
| SQ | CALL | TRADE | NEUTRAL | 01/17/25 | $2.6 | $2.5 | $2.55 | $95.00 | $127.5K | 3.0K | 1.2K |
| SQ | CALL | TRADE | BULLISH | 09/19/25 | $23.0 | $23.0 | $23.0 | $70.00 | $115.0K | 914 | 68 |
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.
After a thorough review of the options trading surrounding Block, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Block
- With a trading volume of 14,452,974, the price of SQ is up by 1.39%, reaching $75.6.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 101 days from now.
Expert Opinions on Block
4 market experts have recently issued ratings for this stock, with a consensus target price of $85.25.
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 Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $83. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Block, targeting a price of $90. * Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $88. * Consistent in their evaluation, an analyst from Keefe, Bruyette & Woods keeps a Market Perform rating on Block with a target price of $80.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
